Recognizes the unique sacrifices made by veterans and the substantial challenges that returning veterans face after a period of military duty away from home. Recognizes further that veterans who own private businesses may face particular hardships as a direct result of their military service.

Declares an intent to mitigate economic damage to veteran-owned businesses as a result of military service, and to provide opportunities to them in recognition of the outstanding service they have given to their country.

Directs the department of veterans affairs to: (1) Report to the legislature by December 2010 and December of each even-numbered year thereafter outlining the progress made in implementing this act;

(2) Develop a procedure for certifying veteran-owned businesses and maintain a list of veteran-owned businesses on the department's public web site;

(3) Adopt rules necessary to implement this act; and

(4) Collaborate with, and assist agencies in, implementing outreach to veteran-owned businesses.

Directs state agencies to: (1) Perform outreach to veteran-owned businesses in collaboration with the department of veterans affairs to increase opportunities for veteran-owned businesses to sell goods and services to the state;

(2) Keep a record of all procurement contracts awarded to veteran-owned businesses as required by the department; and

(3) Report by October 2010 and October of each even-numbered year thereafter to the department on the progress made.

Requires the department of general administration to identify in its vendor registry all vendors that are veteran-owned businesses as certified by the department of veterans affairs.