A bill to amend title 38, United States Code, to revise the enforcement penalties for misrepresentation of a business concern as a small business concern owned and controlled by veterans or as a small business concern owned and controlled by service-disabled veterans, and for other purposes.

Directs that any business determined by the Secretary of Veterans Affairs (VA) to have misrepresented its status as a small business owned and controlled by veterans or service-disabled veterans in order to increase its contracting opportunities shall be debarred from contracting with the VA for not less than five years (under current law, for a reasonable period as determined by the Secretary).

Requires the Secretary to commence the debarment action within 30 days after the misrepresentation determination, and to complete such action within 90 days after such determination. Includes in the debarment all principals in the business.