This bill makes sure that veteran-owned small businesses get a fair share of federal money spent on highway and public transportation projects. Right now, there's no requirement that these businesses benefit from infrastructure spending, so this bill changes that by setting aside a certain percentage of federal transportation funds specifically for veteran-owned companies to bid on and win contracts.

To make this work, the Department of Transportation has to create clear rules that states must follow. These rules cover two main things: first, how states should verify and certify that a business actually qualifies as veteran-owned and small enough to count, and second, how states need to report back to the federal government about which veteran-owned businesses won contracts, how much money was committed to them, and whether the goals were actually met.

In practical terms, this helps veterans who start businesses get better access to government contracts for infrastructure work. Instead of competing against much larger companies for transportation projects, veteran-owned small businesses would have guaranteed opportunities. It also creates accountability by requiring states to track and report their progress, making sure the money actually reaches the intended businesses rather than just being promised on paper.

BUILD Veterans Businesses Act of 2024

Kim, Andy

Better Utilizing Infrastructure for Lasting Development of Veterans Businesses Act of 2024 or the BUILD Veterans Businesses Act of 2024This bill requires a specified percentage of certain federal-aid highway and public transportation funds to be expended through veteran-owned small businesses. Further, the Department of Transportation (DOT) must&nbsp;establish minimum requirements and criteria&nbsp;for states to use in (1) certifying businesses that qualify as a veteran-owned small business; and (2)&nbsp;reporting to DOT on veteran-owned small business awards, commitments, and achievement.&nbsp;