FAIR Vets Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
The FAIR Vets Act adjusts the thresholds used by the government to determine when it can purchase goods and services from service-disabled veteran-owned small businesses. Specifically, it increases the dollar amounts for sole-source contracts, allowing the government to award contracts without competitive bidding when dealing with these businesses. The bill requires the Federal Acquisition Regulatory Council and the Secretary of Defense to update their regulations to reflect these changes. These changes aim to make it easier for service-disabled veteran-owned small businesses to compete for government contracts.
Key provisions
- Increases the sole-source threshold for service-disabled veteran-owned small business contracts to $10 million.
- Increases the sole-source threshold for subcontracting opportunities to $8 million.
- Requires the Federal Acquisition Regulatory Council to update the FAR.
- Requires the Secretary of Defense to update the DFARS.
- The amendments apply to solicitations issued 180 days after the bill’s enactment.
Who is affected
- Service-disabled veteran-owned small businesses
- The Department of Defense
- Federal Government agencies
- Small businesses
- Veterans
Notable changes
- Raises the dollar thresholds for sole-source contracts.
- Updates regulations to align with the increased thresholds.
Bill text
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Sponsors
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8 on record
Primary sponsor
Cosponsors
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