The U.S. Small Business Administration (SBA) issued a correction to regulations concerning the ownership and control of Veteran-Owned (VO) and Service-Disabled Veteran-Owned (SDVO) Small Business Concerns. Originally published in the Federal Register in 2018, these regulations pertained to the verification of such businesses with the Department of Veterans Affairs. In response to changes in the law, a definition was mistakenly removed, so this document corrects that oversight by adding back the term "Interested Party." This correction ensures that the rules are clear and aligned with the National Defense Authorization Act for Fiscal Year 2017.
Simple Explanation
In 2018, the SBA forgot to include a rule about who can complain about certain veteran-owned businesses, so now they're fixing it to make sure everyone understands the rules the same way.