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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 1299 Engrossed in Senate (ES)]

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118th CONGRESS
  2d Session
                                S. 1299

_______________________________________________________________________

                                 AN ACT

 
  To amend title 38, United States Code, to require the Secretary of 
Veterans Affairs to periodically review the automatic maximum coverage 
    under the Servicemembers' Group Life Insurance program and the 
    Veterans' Group Life Insurance program, 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 ``Fairness for Servicemembers and 
their Families Act of 2024''.

SEC. 2. PERIODIC REVIEW OF AUTOMATIC MAXIMUM COVERAGE UNDER 
              SERVICEMEMBERS' GROUP LIFE INSURANCE AND VETERANS' GROUP 
              LIFE INSURANCE.

    (a) In General.--Subchapter III of chapter 19 of title 38, United 
States Code, is amended by adding at the end the following new section:
``Sec. 1980B. Periodic review of automatic maximum coverage
    ``(a) In General.--On January 1, 2025, and every five years 
thereafter, the Secretary shall--
            ``(1) complete a review of how the amount specified in 
        section 1967(a)(3)(A)(i) compares to the amount described in 
        subsection (b); and
            ``(2) submit to the Committees on Veterans' Affairs of the 
        House of Representatives and the Senate the results of the 
        review, which may serve as a guide for coverage increases 
        within the existing administrative incremental structure.
    ``(b) Amount Described.--The amount described in this subsection is 
the amount equal to--
            ``(1) $500,000; multiplied by
            ``(2) the average percentage by which the Consumer Price 
        Index changed during the five fiscal years preceding the review 
        under subsection (a).
    ``(c) Consumer Price Index Defined.--In this section, the term 
`Consumer Price Index' means the Consumer Price Index for All Urban 
Consumers published by the Bureau of Labor Statistics of the Department 
of Labor.''.
    (b) Clerical Amendment.--The table of sections at the beginning of 
chapter 19 of such title is amended by inserting after the item 
relating to section 1980A the following new item:

``1980B. Periodic review of automatic maximum coverage.''.

            Passed the Senate December 17 (legislative day, December 
      16), 2024.

            Attest:

                                                             Secretary.
118th CONGRESS

  2d Session

                                S. 1299

_______________________________________________________________________

                                 AN ACT

  To amend title 38, United States Code, to require the Secretary of 
Veterans Affairs to periodically review the automatic maximum coverage 
    under the Servicemembers' Group Life Insurance program and the 
    Veterans' Group Life Insurance program, and for other purposes.
```