1. Short title This Act may be cited as the Investing in Veteran Entrepreneurial Talents Act or the Investing in VETS Act . 2. Increase in Governmentwide goal for participation in Federal contracts by small business concerns owned and controlled by service-disabled veterans Section 15(g)(1)(A)(ii) of the Small Business Act is amended by striking 3 percent and inserting 5 percent . 3. Certification requirement for small business concerns owned and controlled by service-disabled veterans (a) Title 38 Paragraph (3) of section 8127(l) of title 38, United States Code, is amended to read as follows: (3) The term small business concern owned and controlled by veterans with service-connected disabilities means a small business concern owned and controlled by service-disabled veterans, as defined under section 3(q)(2) of the Small Business Act ( 15 U.S.C. 632(q)(2) ), that is certified by the Administrator of the Small Business Administration. . (b) Small Business Act Section 36 of the Small Business Act ( 15 U.S.C. 657f ) is amended— (1) in subsection (a), by inserting that is certified by the Administrator after service-disabled veterans ; and (2) in subsection (b)— (A) by inserting that is certified by the Administrator before if the contracting officer ; and (B) by inserting such after not less than 2 . (c) Prohibition on self-Certification The Administrator of the Small Business Administration may not allow a small business concern (as defined under section 3 of the Small Business Act ( 15 U.S.C. 632 )) to self-certify as a small business concern owned and controlled by service-disabled veterans (as defined in such section). (d) Effective date; applicability This section and the amendments made by this section— (1) shall take effect 3 years after the date of the enactment of this Act; and (2) shall apply to contracts entered into on or after such date.