No official summary available for this bill.
[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8607 Introduced in House (IH)]
<DOC>
118th CONGRESS
2d Session
H. R. 8607
To amend title 38, United States Code, to make certain legatees of
certain veterans eligible for housing loans guaranteed by the Secretary
of Veterans Affairs, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 4, 2024
Mr. Clyburn (for himself and Mr. Moulton) introduced the following
bill; which was referred to the Committee on Veterans' Affairs
_______________________________________________________________________
A BILL
To amend title 38, United States Code, to make certain legatees of
certain veterans eligible for housing loans guaranteed by the Secretary
of Veterans Affairs, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``VA Housing Loan Forever Act of
2024''.
SEC. 2. TRANSFER OF ELIGIBILITY OF CERTAIN VETERANS FOR HOUSING LOANS
GUARANTEED BY THE SECRETARY OF VETERANS AFFAIRS TO
CERTAIN LEGATEES.
(a) Transfer of Benefits.--Chapter 37 of title 38, United States
Code, is amended by inserting after section 3736 the following new
section (and conforming the table of sections at the beginning of such
chapter accordingly):
``Sec. 3737. Authority to transfer housing loan benefits to legatees
``(a) Benefits Transferred From a Living Veteran.--(1) A veteran
described in paragraph (2) may elect to transfer the housing loan
benefits of the veteran to one or more legatees of the veteran.
``(2) A veteran described in this paragraph is a veteran--
``(A) whose service in the active military, naval, air, or
space service (or any part of such service) occurred between
January 1, 1944, and December 31, 1977; and
``(B) who has not received housing loan benefits under this
chapter.
``(b) Benefits Transferred From a Deceased Veteran.--(1) During the
10-year period beginning one year after the date of the enactment of
the VA Housing Loan Forever Act of 2024, the Secretary shall transfer
the housing loan benefits of a veteran described in paragraph (2) to
each individual--
``(A) who applies to the Secretary for purposes of this
subsection during such 10-year period; and
``(B) whom the Secretary determines is a legatee of such
veteran.
``(2) A veteran described in this paragraph is a veteran--
``(A) whose service in the active military, naval, air, or
space service (or any part of such service) occurred between
January 1, 1944, and December 31, 1977;
``(B) who is deceased;
``(C) who died before the end of the period described in
paragraph (1);
``(D) who died before the individual applied as described
in paragraph (1);
``(E) who did not receive housing loan benefits under this
chapter during the lifetime of the veteran; and
``(F) who did not elect to transfer such housing loan
benefits pursuant to subsection (a) before dying.
``(3) A determination of the Secretary under this subsection shall
be subject to section 5104C of this title without regard to the time
period described in paragraph (1).
``(c) Treatment of a Legatee.--A legatee to whom housing loan
benefits are transferred pursuant to this section shall be treated as a
veteran for purposes of housing loans under this chapter.
``(d) Amount of Transferred Benefit.--Each legatee to whom housing
loan benefits is transferred pursuant to this section shall receive the
full housing loan benefits of the veteran from whom such benefits are
transferred.
``(e) Commencement of Use.--A legatee to whom housing loan benefits
are transferred pursuant to this section may use such housing loan
benefits immediately upon such transfer.
``(f) Nontransferability of Transferred Benefits.--A legatee to
whom housing loan benefits are transferred pursuant to this section may
not transfer such benefits.
``(g) Revocation of Transfer.--A veteran who transfers housing loan
benefits pursuant to subsection (a) may, before the legatee uses such
benefit, revoke such transfer by submission of written notice of such
revocation to the Secretary.
``(h) Legatee Who Becomes an Eligible Veteran.--(1) Nothing in this
section shall be construed to prohibit a legatee to whom housing loan
benefits are transferred pursuant to this section from becoming
otherwise eligible for housing loan benefits under this chapter.
``(2) A legatee described in paragraph (1) may elect to use such
transferred benefits or such benefits to which the legatee is otherwise
eligible.
``(i) Payment of Certain Fees.--A legatee to whom housing loan
benefits are transferred pursuant to this section may not be exempt
from paying a fee under section 3729(c) of this title.
``(j) Legatee Defined.--In this section, the term `legatee' means,
with regards to a veteran--
``(1) a spouse or surviving spouse;
``(2) a biological or legally adopted child;
``(3) a grandchild; and
``(4) any other direct descendant.''.
(b) Expansion of Definition of Veteran for Purposes of Housing Loan
Benefits.--Section 3701(b) of title 38, United States Code, is amended
by adding at the end the following new paragraph:
``(8) The term `veteran' also includes, for purposes of
housing loans, a legatee to whom housing loan benefits are
transferred pursuant to section 3737 of this title.''.
(c) Expansion of Eligibility.--Section 3702(a)(2) of such title is
amended by adding at the end the following new subparagraph:
``(H) Each legatee to whom housing loan benefits are
transferred pursuant to section 3737 of this title.''.
(d) Regulations.--Not later than one year after the date of the
enactment of this Act, the Secretary of Veterans Affairs shall
prescribe regulations to carry out the amendments made by this section.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Veterans' Affairs.
Referred to the Subcommittee on Economic Opportunity.
Subcommittee Hearings Held
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