H.R. 3167: VET Act of 2011
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H.R. 3167: VET Act of 2011
112th Congress · introduced 2011-10-12 · Armed Forces and National Security · Latest: Referred to the Subcommittee on Economic Opportunity.
federal
Follow this bill, step by step
- Where it came from: introduced 2011-10-12 · official record
- Who proposed it: Rep. Fortenberry, Jeff [R-NE-1] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the Subcommittee on Economic Opportunity. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
VET Act of 2011
Plain summary
Veterans Entrepreneurial Transition Act of 2011 or the VET Act of 2011 - Directs the Secretary of Veterans Affairs (VA) to establish a veterans small business entrepreneurship program under which the Secretary may approve an eligible veteran entitled to certain VA educational assistance (under the all-volunteer force or post-9/11 educational assistance programs) to use up to a specified amount of such entitlements to start or acquire a qualifying business enterprise. Limits eligibility for the program to veterans who: (1) have completed at least 36 months of full-time active duty service in the Armed Forces or 24 months of such service before being discharged or separated for a service-connected disability, (2) are entitled to 36 months of such educational assistance, and (3) has last been discharged or separated from active duty service a maximum of 15 years before submitting an application with specified information. Allows a participating veteran to use program benefits, in accordance with limitations the Secretary establishes by rule, for purposes related to starting or acquiring a qualifying business enterprise, including: (1) purchasing goods or services necessary for the operation, expansion, or startup of such an enterprise; (2) funding a project directed toward any economic development objective described under specified provisions of the Small Business Investment Act of 1958; (3) attending an entrepreneurship readiness program to prepare the veteran for, and lead to the immediate subsequent ownership and management by the veteran of, such an enterprise; and (4) acquiring such an enterprise. Directs the Secretary to establish a list of qualifying business enterprise categories including: (1) small businesses, (2) franchise business enterprises, (3) existing business enterprises in which the veteran has an ownership stake, and (4) any other business enterprise determined appropriate by the Secretary. Requires that benefits made available to veterans under the program be taken into account in determining a veteran's creditworthiness for small business loans guaranteed under the Small Business Act and for farm loans made or guaranteed pursuant to the Consolidated Farm and Rural Development Act. Authorizes the Secretary, in the event a veteran dies before receiving the balance of benefits payable under this Act, to pay the approved benefits to a survivor designated by the veteran under specified circumstances.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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A “Nay” vote
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Fortenberry, Jeff [R-NE-1] · 11 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
John R. Carter (R-TX)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (2)
- Appropriation
- Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
- Rulemaking
- The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr3167.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>
Record fed-us-cong112-hr3167 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112