CONTRACT
VEHICLES
Public Law 106-50 – The Veterans Entrepreneurship and Small Business Development Act of 1999

The purpose of P.L. 106-50 is to expand existing small business programs and establish new assistance programs for veterans who own and operate small business firms. This act recognizes that many veterans and/or reservists have been negatively impacted by the numerous military deployments in the past 10 years. It allows active duty reservists to defer repayment of loans when they are on active duty. The period of deferral shall begin when the eligible reservist is ordered to active duty and shall terminate 180 days after the reservist is released from active duty. The act also establishes the Associate Administrator of Veterans Business Development within the Small Business Administration. The act also defines service-disabled veteran and veteran owned firm.

To read the entire Federal Acquisition Circular 97-20 that describes the FAR amendments to incorporate the SDVOSB classifications and other details, click here.

To read an expanded summary of P.L. 106-50, pleas click here.