Text: H.R.114 — 111th Congress (2009-2010)All Information (Except Text)

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Introduced in House (01/06/2009)


111th CONGRESS
1st Session
H. R. 114


To allow veterans to elect to use, with the approval of the Secretary of Veterans Affairs, certain financial educational assistance to establish and operate certain business, and for other purposes.


IN THE HOUSE OF REPRESENTATIVES

January 6, 2009

Mr. Fortenberry introduced the following bill; which was referred to the Committee on Veterans’ Affairs


A BILL

To allow veterans to elect to use, with the approval of the Secretary of Veterans Affairs, certain financial educational assistance to establish and operate certain business, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Veterans Entrepreneurial Transition Business Benefit Act”.

SEC. 2. Veterans entrepreneurial transition business benefit.

(a) In general.—A veteran who is eligible to receive financial educational assistance under chapter 30 of title 38, United States Code, may elect to use, with the approval of the Secretary of Veterans Affairs, any of such financial assistance to establish and operate a business that the veteran will own and operate as the primary source of income for the veteran.

(b) Regulations.—The Secretary shall issue regulations to carry out subsection (a), including regulations to ensure that financial assistance used under this section is used for the purpose for which it is approved, to establish application procedures requiring appropriate business planning, and to require periodic reporting throughout the duration of the provision of such assistance.


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