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- TRRT Online Edition | July 1-7
Jefferson-backed bill assisting veteran-owned businesses now law
Online Staff Report
Legislation backed by state Rep. Chuck Jefferson, D-Rockford, to give veteran-owned businesses a boost while potentially helping the state save tax dollars is now law.
“Men and women in the armed forces risk their lives for our freedom and safety,” Jefferson said. “When they return home, they should be given respect and as much assistance returning to civilian life as possible. That includes assistance finding steady employment.”
House Bill 2408 allows veterans who own businesses — in addition to certifying the business as veteran-owned — to certify the businesses as female-owned, minority-owned or person with a disability-owned, if the designation applies.
Under current law, veterans may only have their businesses certified as veteran-owned or service disabled veteran-owned, forcing them to choose one category over another, when more than one may apply. This restriction limits the opportunities these businesses have to bid for state contracts.
Giving veterans more chances to bid for contracts may also lower costs for state taxpayers, as more businesses competing may drive down the costs of state projects.
“This law not only helps our veterans, but it has the potential to positively impact economic growth and job creation and save tax dollars,” Jefferson said.
The new law is now in effect.
Posted Sept. 19, 2013