Politics & Government
New Law Promotes Veteran-Owned Business
Veterans who own businesses will now get more opportunity to do business with the state.
Veterans who own small businesses will now get more opportunities to do business with the state as a result of a new law signed by Gov. Pat Quinn last Sunday, Aug. 11.
The new law allows veteran-owned businesses to register as minority, disabled and woman-owned businesses when applicable, reports Progress Illinois.com. Previously, the state reserved three percent of its contract work for veteran-owned businesses. Now, veteran-owned businesses have the opportunity to compete for up to 20 percent of the state's contracts.
The bill was sponsored by Orland Hills State Sen. Michael Hastings.
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“The goal of this law is to promote and encourage the continued economic development of small businesses owned by veterans,” Hastings said.
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