Section 1 Short title
This Act may be cited as the “Federal Acquisition Improvement and Reform Vets Act” or the “FAIR Vets Act”.
Federal Acquisition Improvement and Reform Vets Act
A BILL
To amend the Small Business Act to adjust sole-source thresholds for service-disabled veteran-owned small business concerns, and for other purposes.
Sec. 2 Modernization of sole-source thresholds for service-disabled veteran-owned small business concerns
in subsection (c)(2), by striking “(including options)”;
in subsection (c)(2)(A), by striking “$7,000,000” and inserting “$10,000,000”; and
in subsection (c)(2)(B), by striking “$3,000,000” and inserting “$8,000,000”.
Implementation— Not later than 180 days after the date of enactment of this Act, the Federal Acquisition Regulatory Council shall amend the Federal Acquisition Regulation (including FAR 19.1406) and the Secretary of Defense shall amend the Defense Federal Acquisition Regulation Supplement to implement the amendments made by subsection (a).
Application— The amendments made by this section shall apply to solicitations issued on or after the date that is 180 days after the date of enactment of this Act.