Sending Office: Honorable Tulsi Gabbard
Please join as a cosponsor for
H.R. 4991, the Post 9/11 Veteran Business Acceleration Act. This bill will establish a pilot program to allow a servicemember to elect to receive financial assistance to establish and operate a small business.
The proposed legislation will offer alternatives to education within the Post-9/11 G.I. bill. This program will offer an expanded choice to veterans as they leave the military. Not every veteran is prepared or wants to attend college. Many veterans have
families and they cannot afford to attend school fulltime, but they are interested in starting a company.
The military spends millions of dollars every year on training skilled labor professionals. Some of these individuals have skills in great need in the civilian communities. Having the ability to fund their own business is an added benefit to the community.
Cosponsors: Rep. Spano*, and Lawson*
Organizational Support: Reserve Officers Association, The Retired Enlisted Association, Naval Enlisted Reserve Association, and Jewish War Veterans of the USA
Currently, 7.2 percent of the nation’s 5.5 million businesses are veteran owned. With our pilot program we could increase the number by providing Veterans with financial backing to start a business when transitioning out of the military. Veteran-owned businesses
are important for the economy.
- The pilot program gives a qualified Veteran one year of basic allowance for housing (BAH) in the first year of the pilot program.
Calculation of BAH is based off the same formula that the current Post 9/11 GI Bill determinations are. According to CRS: In general, the monthly housing allowance is based on the Department of Defense (DOD)-determined monthly (BAH) for a member of
the Armed Forces with dependents in pay grade E-5 and varies depending on location.
- Our bill gives a qualified Veteran a maximum payment of $20,000 each year for a period not to exceed three years. The Veteran will have a choice to receive a 60% lump sum the first year of the program. The funds will not be reimbursable if the Veteran opts
out of the program for GI bill education benefits. Additional years in the program will be monthly payments to the Veteran.
- The pilot program will allow multiple Veterans to apply to pursue a common business goal (Veterans can apply for the program to start a company using their combined funds).
- Additionally, our bill will allow a Veteran to opt-out of the pilot program and pursue college if they do not wish to continue. The Veteran will retain his/her educational benefits if they only use part of the stipend, and the Veteran can only switch between
the Post 9/11 Educational benefits and pilot program one time.
If you would like to be a cosponsor, please click on the link>
BECOME A CO-SPONSOR.
If you have any questions, please feel free to contact email@example.com in Rep. Gabbard’s office.
Tulsi Gabbard Ross Spano
Member of Congress Member of Congress
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