What does Preamble of HR 7534 do?

This bill, formally titled 'To amend the Small Business Act to establish a goal for participation by small business concerns owned and controlled by veterans in procurement contracts, and for other purposes,' aims to amend the Small Business Act. The bill intends to establish a goal for participation by small business concerns owned and controlled by veterans in procurement contracts.

What does SHORT TITLE. of HR 7534 do?

This bill is formally titled Contract Our Veterans Act of 2026

What does AGENCY CONTRACTING GOALS FOR SMALL BUSINESS CONCERNS OWNED AND of HR 7534 do?

This section amends the Small Business Act to establish provisions related to contracts awarded to small business concerns owned and controlled by veterans. A contracting officer may award a sole-source contract to a veteran-owned small business concern if certain conditions are met, including being deemed a responsible source and the price not exceeding specified limits. Contracts may be awarded through restricted competition limited to veteran-owned small businesses if the contracting officer reasonably expects multiple offers and can ensure a fair and reasonable price. To be eligible for a contract under this section, both the small business concern and the veteran owner must be listed in a specified database.

What does GOVERNMENTWIDE GOALS AND REPORTING REQUIREMENTS FOR SMALL of HR 7534 do?

This section amends the Small Business Act to include small business concerns owned and controlled by veterans in governmentwide goals and reporting requirements. The governmentwide goal for participation by small business concerns owned and controlled by veterans is set at not less than 5 percent of the total value of all prime contract and subcontract awards for each fiscal year. The section requires reporting on goals for small business concerns owned and controlled by veterans, including the number of contracts awarded and the total value of such contracts.

What does PARTICIPATION IN FEDERAL PROCUREMENT BY SMALL BUSINESS CONCERNS of HR 7534 do?

This section amends the Small Business Act to include small business concerns owned and controlled by veterans in various federal procurement programs. Amendments are made to sections related to business opportunity specialists, commercial market representatives, consideration of offers, and best in class addendums. The section also modifies offices of small and disadvantaged business utilization, scorecard programs, mentor-protege reporting, and limitations on subcontracting. Small business concerns owned and controlled by veterans are added to the list of concerns eligible for sole source contracts and competitions. The section requires tracking and reporting of awards made to small business concerns owned and controlled by veterans.

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Contract Our Veterans Act of 2026 — HR. 7534

Last updated: 2/12/2026 · Introduced: 2/12/2026

Author: Randy Fine (R-FL)

TL;DR (AI)

This bill amends the Small Business Act to establish a 5% governmentwide goal for federal contracts awarded to small businesses owned and controlled by veterans.
It allows contracting officers to award sole-source or restricted competition contracts to veteran-owned small businesses under specific conditions, requiring listing in a designated database.
The bill modifies various federal procurement programs to include small business concerns owned and controlled by veterans, and mandates tracking and reporting of awards to these businesses.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 3 more.

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