Senate Democrats propose bill to support veteran-owned small businesses

Veteran-owned small businesses received additional support today as Senate Democrats proposed a new bill that would give these businesses additional bidding preferences under state contracting laws and waive the first year’s business entity tax.

“(This is) the right thing to do,” said Senate Majority Leader Bob Duff (D-Norwalk). “Retaining and attracting veteran-owned businesses is a priority for the Senate Democrats as part of our larger commitment to those who serverd our nation.”

In order for a small business to receive veteran-owned status, the company must be owned by a 51 percent holding by an honorably discharged veteran.

“Our veterans answered the call of duty and when they return home to Connecticut to start a business, the state should be there to lend a helping hand,” said Senate President Martin M. Looney (D-New Haven). “Our proposal will make it easier for veterans to start ... and grow a business here in Connecticut.”