Guard and Reserve GI Bill Parity Act of 2021

To amend title 38, United States Code, to ensure that the time during which members of the Armed Forces serve on active duty for training qualifies for educational assistance under the Post-9/11 Educational Assistance Program of the Department of Veterans Affairs, and for other purposes. 1. Short title This Act may be cited as the Guard and Reserve GI Bill Parity Act of 2021 2. Post-9/11 Educational Assistance for certain Reserve and National Guard duty (a) Other qualifying duty Section 3311(b) of title 38, United States Code, is amended— (1) by striking (including (including other qualifying duty and (2) by striking (excluding (including other qualifying duty but excluding (3) in paragraph (2), by inserting or other qualifying duty active duty (b) Other qualifying duty defined Section 3301 of such title is amended— (1) by redesignating paragraphs (3) and (4) as paragraphs (4) and (5), respectively; and (2) by inserting after paragraph (2) the following new paragraph: (3) The term other qualifying duty (A) During the period beginning on August 1, 2025, and ending on July 31, 2032, active duty for training performed by a member of the Armed Forces— (i) on or after August 1, 2025; or (ii) before August 1, 2025, if such individual is a member of the Armed Forces on or after such date. (B) On or after August 1, 2032, duty performed before, on, or after such date that is— (i) active duty for training performed by a member of the Armed Forces; or (ii) inactive duty training performed by a member of the Armed Forces. . (c) Time limitation for use of entitlement for other qualifying duty Section 3321 of such title is amended— (1) in subsection (a)— (A) in paragraph (1), by striking ; or (B) in paragraph (2), by striking the period at the end and inserting ; or (C) by adding at the end the following new paragraph: (3) in the case of an individual whose entitlement is based on other qualifying duty performed— (A) before August 1, 2025, expires on the latter of— (i) the end of the 15-year period beginning on the date of the discharge or release of such individual from the Armed Forces; or (ii) August 1, 2040; or (B) on or after August 1, 2025, shall not expire. ; and (2) in subsection (b), by adding at the end the following new paragraph: (6) Individuals subject to two periods In the case of an individual subject to periods under paragraphs (1) and (3)(A) of subsection (a), the period under such paragraph (3)(A) shall apply to such individual’s entitlement. . 3. Modification of certain housing loan fees (a) Extension The loan fee table in section 3729(b)(2) of title 38, United States Code, is amended by striking October 1, 2030 October 1, 2031 (b) IRRRL rate The item in subparagraph (E) of the loan fee table under such section is amended to read as follows: (E)(i) Interest rate reduction refinancing loan (closed on or after July 1, 2022, and before October 1, 2028) 0.85 0.85 NA (ii) Interest rate reduction refinancing loan (closed during a period not covered by clause (i)) 0.50 0.50 NA . January 6, 2022 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

Summary: Guard and Reserve GI Bill Parity Act of 2021 This bill expands eligibility for Post-9/11 GI Bill educational assistance and addresses other Department of Veterans Affairs (VA) programs and benefits. Specifically, the bill expands the type of duty that is eligible for such educational assistance. Beginning on August 1, 2025, types of duty eligible for educational assistance benefits include (1) active duty for training performed by a member of the Armed Forces on or after this date, and (2) active duty for training occurring before this date only if the individual is a member on or after this date. Furthermore, beginning on August 1, 2032, duty eligible for these benefits includes active or inactive duty training performed by a member of the Armed Forces before, on, or after August 1, 2032. Educational assistance eligibility for individuals who performed qualifying types of duty as provided in the bill before August 1, 2025, expires on the latter of (1) August 1, 2040, or (2) the end of the 15-year period after their discharge or release from the Armed Forces. For individuals who performed such duty on or after August 1, 2025, educational assistance eligibility does not expire. Furthermore, the bill provides for the expiration of eligibility applicable to individuals subject to two different periods of eligible duty. The bill also makes adjustments to certain loan fees under the VA home loan program, including the fee for an interest rate reduction refinancing loan. Additionally, the VA must provide information to new veterans that includes a description of the medical care, services, and other benefits they are entitled to through the VA.