Veterans Entrepreneurship Act of 2026

The bill requires the Small Business Administration (SBA), in consultation with the Department of Veterans Affairs (VA) and the Advisory Committee on Veterans Business Affairs, to establish a three-year pilot program. The program provides grants to eligible veterans to help them start or buy qualifying businesses, such as small businesses and franchises. The SBA is required to: * Launch the pilot program within 90 days of the bill's enactment. * Establish by rule a list of eligible business categories. * Ensure geographic diversity when selecting grant recipients.

This bill affects: * **Eligible Veterans and Service Members:** Veterans or separating/retiring service members who have an honorable discharge or approved separation packet. To qualify, they must have served at least 36 months of active duty (or at least 24 months if discharged due to a service-connected disability) and be entitled to GI Bill educational assistance under Chapter 30 or Chapter 33. * **Groups of Veterans:** Groups of eligible veterans are permitted to apply together as a single applicant. * **Government Agencies:** The SBA and the VA, which are responsible for administering and consulting on the program.

If passed, eligible veterans would be permitted to use funding derived from their remaining GI Bill entitlement to start or purchase a business rather than solely for traditional education. The SBA would be required to create rules defining eligible business structures (including franchises and small businesses) and manage the application process for up to 250 veterans.

The grants consist of up to three funding components (note: details in the provided summary cut off before completing all components): 1. **Base Grant Amount:** Calculated by multiplying the recipient's remaining months of GI Bill entitlement by their applicable monthly GI Bill rate. 2. **Monthly Living Assistance:** A monthly allowance equal to the Basic Allowance for Housing (BAH) for an E-5 with dependents in the veteran's ZIP code. Recipients with no outside employment receive the full (100%) rate, while those with outside employment receive a partial rate (starting at 50%, though specific conditions are incomplete in the source text). 3. **Third Component:** Unclear; details were omitted in the provided summary text. For group applications, the maximum grant amount is multiplied by the number of eligible veterans in the group.

* **Participant Cap:** The pilot program is strictly limited to a maximum of 250 eligible veterans. * **Program Duration:** The program expires 3 years after its official launch date. * **Service Minimums:** Veterans generally must have served 36 months of active duty, with an exception allowing 24 months for those discharged due to a service-connected disability. * **Incomplete Information:** Full details regarding the partial living assistance rate and the third grant component are missing from the provided summary text.

This bill mandates a 3-year pilot program capped at 250 veterans, allowing qualified applicants to convert their remaining GI Bill benefits into grant money and living allowances to start or buy a business.