Bill > S2334

This bill, titled the "Improving Opportunities for Service-Disabled Veteran-Owned Small Businesses Act of 2014," aims to consolidate and clarify the definition of a "small business concern owned and controlled by veterans" across different federal laws. Specifically, it amends the Small Business Act and title 38 of the United States Code (which deals with Veterans Affairs) to ensure a consistent definition. The core change involves defining such a business as one where at least 51% is owned by one or more service-disabled veterans, and its management and daily operations are controlled by them, or in certain cases, by their spouse or caregiver. A significant provision addresses what happens after the death of a veteran owner: their surviving spouse can continue to be treated as the veteran owner for a specified period, allowing the business to maintain its status as a veteran-owned small business. This period varies depending on the severity of the veteran's disability and whether their death was service-connected. Additionally, the bill mandates a report by the Government Accountability Office (GAO) to evaluate the feasibility of a single government agency being responsible for verifying the status of these veteran-owned small businesses.