One advantage of working with The Maven Group is that we can assist your private or public organization in meeting your mandated SDVOSB requirements. All monies spent with The Maven Group, can be applied toward the mandated 3% SDVOSB goal requirement that federal agencies and their prime contractors are responsible for.
We have included the following information for your furtherreview:
Federal Procurement Assistance Laws for Service-Disabled Veteran-Owned Firms Public Law 108-183 VETERANS BENEFITS ACT OF 2003
VETERANS BENEFITS ACT OF 2003 In an Oval Office ceremony held December 16, 2003 , President Bush signed H.R. 2297, the Veterans Benefits Act of 2003, a bill composed of 7 titles with 39 substantive provisions.
All totaled, the new law authorizes $1 billion over the next ten years for new and expanded benefits for disabled veterans, surviving spouses, and children.
The U.S. Small Business Administration recently announced a new procurement program that will boost federal contract opportunities for service-disabled, veteran-owned small businesses. Federal contract dollars to service-disabled veterans increased from $298 million in fiscal year 2002 to $510 million in FY 2003. The regulations being issued will help to ensure that Americans who served in the United States Armed Forces will continue to have fair and open access to contracting opportunities.
Service-disabled veteran means a veteran with a disability that is service connected; the disability was incurred in the line of duty while serving in the U.S. active military, naval or air service. A service-disabled veteran- owned small business concern is a small business that is at least 51% owned by one or more service-disabled veterans. In the case of publicly owned businesses, at least 51% of the stock is owned by one or more service-disabled veterans and the management and daily business operations are controlled by one or more service-disabled veterans or in the case of a veteran with permanent and severe disability, the spouse or permanent caregiver of such veteran.
As enacted, H.R. 2297, the Veterans Benefits Act of 2003: Allows federal agencies to create "sole-source" contracts for service-disabled veteran-owned small businesses - up to $5 million for manufacturing contract awards and up to $3 million for non-manufacturing contract awards.
What does this mean? There is a 3% Federal prime contract and 3% subcontracting goal for all Federal agencies to achieve that applies to service-disabled veteran-owned small businesses. The 3 % contract goal for Federal agencies applies only to service-disabled veteran-owned businesses.
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