3.0.0 3167 2023-01-11T13:22:07Z 2023-01-11T13:22:07Z House H HR 2011-10-12 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. FORTENBERRY:H.R. 3167.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1 of the United StatesConstitution.[Page H6854]]]> hsvr00 Veterans' Affairs Committee House Standing hsvr10 Economic Opportunity Subcommittee Referred to 2011-10-25T14:49:52Z Referred to 2011-10-12T14:01:05Z hsag00 Agriculture Committee House Standing hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee Referred to 2011-10-19T20:30:23Z Referred to 2011-10-12T14:01:15Z hssm00 Small Business Committee House Standing Referred to 2011-10-12T14:01:10Z 2011-10-25 hsvr10 Economic Opportunity Subcommittee 1 House committee actions Referred to the Subcommittee on Economic Opportunity. Committee 2011-10-19 hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee 1 House committee actions Referred to the Subcommittee on Department Operations, Oversight, and Credit. Committee 2011-10-12 Referred to the Committee on Veterans' Affairs, and in addition to the Committees on Small Business, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2011-10-12 Referred to the Committee on Veterans' Affairs, and in addition to the Committees on Small Business, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2011-10-12 Referred to the Committee on Veterans' Affairs, and in addition to the Committees on Small Business, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsvr00 Veterans' Affairs Committee 2011-10-12 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-10-12 Introduced in House IntroReferral 1000 9 Library of Congress F000449 Rep. Fortenberry, Jeff [R-NE-1] Jeff Fortenberry R NE 1 N F000116 Rep. Filner, Bob [D-CA-51] BOB FILNER D CA 51 2011-10-14 False G000567 Rep. Griffin, Tim [R-AR-2] Tim Griffin R AR 2 2011-10-26 False D000613 Rep. Dold, Robert J. [R-IL-10] Robert Dold R IL J. 10 2011-11-03 False M001181 Rep. Meehan, Patrick [R-PA-7] Patrick Meehan R PA 7 2011-11-07 False C001051 Rep. Carter, John R. [R-TX-31] John Carter R TX R. 31 2011-11-14 False G000549 Rep. Gerlach, Jim [R-PA-6] Jim Gerlach R PA 6 2011-11-22 False C001038 Rep. Crowley, Joseph [D-NY-7] JOSEPH CROWLEY D NY 7 2011-11-22 False C001078 Rep. Connolly, Gerald E. [D-VA-11] Gerald Connolly D VA E. 11 2011-12-20 False S001182 Rep. Schilling, Robert T. [R-IL-17] Robert Schilling R IL T. 17 2011-12-20 False F000451 Rep. Fitzpatrick, Michael G. [R-PA-8] Michael Fitzpatrick R PA G. 8 2012-03-07 False P000585 Rep. Platts, Todd Russell [R-PA-19] TODD PLATTS R PA RUSSELL 19 2012-03-07 False Armed Forces and National Security Agricultural prices, subsidies, credit Business investment and capital Government lending and loan guarantees Small business Veterans' education, employment, rehabilitation Veterans' loans, housing, homeless programs Veterans' pensions and compensation Armed Forces and National Security 00 2011-10-12 Introduced in House 2011-12-08T14:59:26Z 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.

]]> VET Act of 2011 Display Title VET Act of 2011 Official Title as Introduced To direct the Secretary of Veterans Affairs to establish a program under which certain veterans entitled to educational assistance under the laws administered by the Secretary can use such entitlement to start or purchase a qualifying business enterprise, and for other purposes. Introduced in House IH Short Titles as Introduced VET Act of 2011 Short Titles as Introduced Veterans Entrepreneurial Transition Act of 2011 Introduced in House 2011-10-12T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr3167ih/xml/BILLS-112hr3167ih.xml 2011-10-25 Referred to the Subcommittee on Economic Opportunity. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.