; and (2) the process for assessing and verifying offeror compliance with regulations relating to equal opportunity for veterans requirements. (c) Covered offeror defined In this section, the term covered offeror means an offeror for which 5 percent of the full-time employees of such offeror are veterans. . (2) Clerical amendment The table of sections at the beginning of such chapter is amended by adding after the item relating to section 3312 the following new item: 3313. Contracting preference for offerors employing veterans. . (b) Defense contracts (1) In general Chapter 137 of title 10, United States Code, is amended by adding at the end the following new section: 2339b. Contracting preference for offerors employing veterans (a) Preference With respect to the procurement of goods and services using competitive procedures by executive agencies, where such procurement is valued at $25,000,000 or higher, the Administrator shall establish a preference, and criteria for applying such preference, for a covered offeror. (b) Congressional report Prior to establishing the preference described in subsection (a), the Secretary of Defense shall provide a report to Congress that includes— (1) a plan for implementing such preference, including penalties for an offeror that willfully and intentionally misrepresents the veteran status of the employees of the offeror in a bid submitted under subsection (a)