FAIR Vets Act

Summary#

This bill, the FAIR Vets Act, changes parts of the Small Business Act that govern sole-source contracts for service-disabled veteran-owned small businesses. It removes the words "(including options)" from a procurement rule and raises two dollar thresholds. One threshold is increased from $7,000,000 to $10,000,000. The other is increased from $3,000,000 to $8,000,000. The bill directs the Federal Acquisition Regulatory Council and the Secretary of Defense to update the Federal Acquisition Regulation (including FAR 19.1406) and the Defense Federal Acquisition Regulation Supplement within 180 days. The changes apply to solicitations issued on or after 180 days after the bill becomes law.

What it means for you#

• Service-disabled veteran-owned small businesses: higher dollar amounts for awards made without full competition under the named program.
• Contracting officials and agencies: must update the FAR and DFARS to reflect the new text and thresholds within 180 days.
• Other businesses and the public: No publicly available information on broader effects beyond the text of the bill.

Expenses#

No publicly available information on budgetary costs, savings, or fiscal effects in the bill text or supplied metadata.

Proponents' View#

No publicly available information in the bill text or supplied metadata describing proponents' statements or reasons.

Opponents' View#

No publicly available information in the bill text or supplied metadata describing opponents' statements or reasons.