WeVote
Log In

Bill

Bill

SB 64

Prohibiting financial institutions from discriminating against firearms businesses

2025 Regular Session Introduced by Jack Woodrum

Creates a state veteran-owned business logotype (≥51% veteran-owned) with fees up to $250, a public directory, and enforcement for false claims.

To Banking and Insurance
#bankingandfinance
0
WeVote Research Nonpartisan
Bill Summary · SB 64

Summary — SB 64 (Title 51 — Military Affairs)

Status: Referred to Veterans Affairs & Emergency Preparedness
Introduced: August 4, 2025

Main purpose

SB 64 amends Title 51 (Military Affairs) to (1) clarify use of the Military Family Relief Assistance Fund and (2) create a state-administered “veteran‑owned business” logotype program to identify and promote businesses majority‑owned by veterans. The bill also establishes fees, enforcement, and reporting requirements tied to the program.

Key provisions

  • Adds a new Subchapter (Veteran‑Owned Business Logotype) to Chapter 96 of Title 51 with definitions and program structure.
    • Defines “veteran‑owned business” as any business that is at least 51% owned or controlled by veterans.
    • Defines the Military Family Relief Assistance Fund as the funding source for certain program payments.
  • Requires the Department of Military and Veterans Affairs (DMVA) to:
    • Develop and design an official Commonwealth veteran‑owned business logotype no later than 90 days after the act’s effective date.
    • Establish and publish eligibility criteria and application/renewal procedures on its public website.
    • Maintain a publicly accessible online directory of approved veteran‑owned businesses authorized to use the logotype.
    • Collaborate with other Commonwealth agencies to integrate the logotype into veteran business support programs.
    • Produce an annual report to the Senate and House Veterans Affairs and Emergency Preparedness committees on approvals and renewals.
  • Fee and fund provisions:
    • Authorizes DMVA to charge a fee to use/display the logotype (not to exceed $250).
    • Fees and fines collected are deposited into the Military Family Relief Assistance Fund and may be used for program administration and related payments.
  • Enforcement:
    • Establishes a criminal offense (misdemeanor of the third degree) for fraudulently representing oneself as a veteran to obtain the logotype. Fines collected go into the Military Family Relief Assistance Fund.
  • Clarifies that monies from the Military Family Relief Assistance Fund may be used to make payments under the new logotype authority.

Who is affected

  • Veteran‑owned businesses (≥51% veteran ownership) — may apply for and pay to display the official logotype and be listed in the state directory.
  • Department of Military and Veterans Affairs — responsible for implementation, rulemaking, application processing, and reporting.
  • Consumers, procurement officers, and other agencies — gain a state‑recognized identifier for veteran‑owned businesses.
  • Commonwealth enforcement and court systems — potential for misdemeanor prosecutions for fraudulent claims.

Fiscal and administrative impact

  • DMVA estimates first‑year start‑up costs of approximately $24,138 (logotype design, application/renewal forms, stickers).
  • The bill authorizes fees (up to $250) to be deposited into the Military Family Relief Assistance Fund to support ongoing administration; the fund had an available balance reported at about $1.1 million (per agency note).
  • Net ongoing revenue/expense is dependent on program take‑up and fee levels; fine revenue will also flow to the same fund.

Procedural / timeline notes

  • DMVA must design the logotype within 90 days after the act’s effective date.
  • Effective date in the fiscal note: September 1, 2026, or immediately, whichever is later (per bill text referenced in fiscal analysis).
  • Current legislative status (per the information provided): referred to the Veterans Affairs & Emergency Preparedness committee.

If you want, I can draft a one‑page brief for DMVA implementation (checklist, timeline and sample application elements) or prepare a short Q&A for veteran business owners about eligibility and application steps.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.