United States 112th Congress Status: Died 1 R cosponsors

HR 3167 — VET Act of 2011

Last action — Referred to the Subcommittee on Economic Opportunity.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

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.

Bill Text

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Read HR 3167 on the official United States source →

Action History

  1. Referred to the Subcommittee on Economic Opportunity.

  2. Referred to the Subcommittee on Department Operations, Oversight, and Credit.

  3. Referred to House Agriculture

  4. Referred to House Small Business

  5. Referred to House Veterans' Affairs

  6. 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.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance veterans labor education
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HR 3167 do?
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.
Who sponsors HR 3167?
HR 3167 is sponsored by Jeff Fortenberry (R).
What is the current status of HR 3167?
This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 3167?
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