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[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>
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