Establishes a requirement that at least 3% of federal-aid highway and public transportation funds be allocated to veteran-owned small business concerns.
Defines key terms including “small business concern,” “veteran,” and “veteran owned small business concern.”
Mandates the Secretary of Transportation to develop uniform criteria for states to certify businesses as veteran-owned small business concerns, including a personal net worth limit for the veteran owners.
Requires states to report to the Secretary of Transportation on awards, commitments, and achievements related to veteran-owned small business concerns, as well as any other information deemed necessary for monitoring the program.