S. 3405 (112th): Veterans Small Business Protection Act of 2012

112th Congress, 2011–2013. Text as of Jul 19, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

II

112th CONGRESS

2d Session

S. 3405

IN THE SENATE OF THE UNITED STATES

July 19, 2012

(for himself and Mr. Burr) introduced the following bill; which was read twice and referred to the Committee on Veterans' Affairs

A BILL

To amend title 38, United States Code, to treat small businesses bequeathed to spouses and dependents by members of the Armed Forces killed in line of duty as small business concerns owned and controlled by veterans for purposes of Department of Veterans Affairs contracting goals and preferences, and for other purposes.

1.

Short title

This Act may be cited as the Veterans Small Business Protection Act of 2012.

2.

Treatment of businesses after deaths of servicemember-owners for purposes of Department of Veterans Affairs contracting goals and preferences

(a)

In general

Section 8127 of title 38, United States Code, is amended—

(1)

by redesignating subsections (i) through (l) as subsections (j) through (m), respectively; and

(2)

by inserting after subsection (h) the following new subsection (i):

(i)

Treatment of businesses after death of servicemember-Owner

(1)

If a member of the Armed Forces owns at least 51 percent of a small business concern and such member is killed in line of duty in the active military, naval, or air service, the surviving spouse or dependent of such member who acquires such ownership rights in such small business concern shall, for the period described in paragraph (2), be treated as if the surviving spouse or dependent were a veteran with a service-connected disability for purposes of determining the status of the small business concern as a small business concern owned and controlled by veterans for purposes of contracting goals and preferences under this section.

(2)

The period referred to in paragraph (1) is the period beginning on the date on which the member of the Armed Forces dies and ending on the date as follows:

(A)

In the case of a surviving spouse, the earliest of the following dates:

(i)

The date on which the surviving spouse remarries.

(ii)

The date on which the surviving spouse relinquishes an ownership interest in the small business concern and no longer owns at least 51 percent of such small business concern.

(iii)

The date that is ten years after the date of the member's death.

(B)

In the case of a dependent who is not a spouse, the earliest of the following dates:

(i)

The date on which the surviving dependant relinquishes an ownership interest in the small business concern and no longer owns at least 51 percent of such small business concern.

(ii)

The date that is ten years after the date of the member's death.

.

(b)

Effective date

Subsection (i) of section 8127 of such title, as added by subsection (a), take effect on the date of the enactment of this Act and shall apply with respect to the deaths of members of the Armed Forces occurring on or after such date.