Protecting Business Opportunities for Veterans Act of 2020 This bill applies certain small business subcontracting limitations to contracts that the Department of Veterans Affairs (VA) awards to a small business concern owned and controlled by a veteran or a veteran with a service-connected disability. The VA may award such a contract only after obtaining a certification from the offeror that it will comply with such subcontracting limitations if awarded the contract. Such certification shall specify the applicable performance requirements and explicitly acknowledge that the certification is subject to criminal penalties for making false statements in any matter within the jurisdiction of the U.S. government. The VA Director of Small and Disadvantaged Business Utilization and the VA Chief Acquisition Officer shall jointly monitor compliance and refer any violation or suspected violation to the VA Inspector General. If the VA determines that a contract recipient did not act in good faith, such recipient shall be subject to any or all of the following: (1) referral to the VA Debarment and Suspension Committee, (2) a criminal fine, and (3) criminal prosecution. The Inspector General shall report on (1) the number of referred violations and suspected violations; and (2) the disposition of such violations, including the number of small business concerns suspended or debarred from federal contracting or referred for Department of Justice prosecution.