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Summary of the
Veterans Benefits Act of 2003
The parts of the Veterans Benefits Act of 2003 that pertain to veteran entrepreneurship are contained in Title III – Education Benefits, Employment Provisions, and Related Matters. They are as follows:
- Entrepreneurial Training
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Section 301 - Expand the Montgomery GI Bill program by authorizing educational assistance for on-job training in certain self-employment training programs
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Section 305 - Authorize the use of VA education benefits to pay for non-degree/non-credit entrepreneurship courses at approved institutions
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Small Business Development Centers
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National Veterans Business Development Corporation (aka Veterans Corporation)
- Procurement Program - cannot be used if contract would otherwise be made with FPI, FBP public works, or JWOD activities
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Section 308 - Furnish federal agencies discretionary authority to restrict certain contracts to disabled veteran-owned small businesses if at least two such concerns are qualified to bid on the contract.
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Section 308 - Furnish federal agencies discretionary authority to create "sole-source" contracts for disabled veteran-owned small businesses – up to $5 million for manufacturing contract awards and up to $3 million for non-manufacturing contract awards.
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Manufacturing less than $5,000,000
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Other less than $3,000,000
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