An Act to extend the veterans guaranteed and direct home loan program and to provide additional funds for the veterans direct loan program
PL 87-84 (H.R.5723), enacted 07/06/1961

76 STAT.] 
PUBLIC L
A
W 87-84-JULY 6, 1961 
201 
Public Law 87-84 
AN ACT 
To extend the veterans' guaranteed and direct home loan program and to provide . C". R. 5723 
additional funds for the veterans' direct loan program. 
July 6, 1961 
C
H
. R. 57 
Veterans, 
Housing loans. 
Be it enacted hy the Senate and House of Representatives of the 
United States of AmeHca in Congress assembled^ That (a) section 
1803 of title 38, United States Code, is amended by striking out sub- "2 stat? 1205 
section (a) and inserting in lieu thereof the following: 
"(a) (1) Any loan to a World War II or Korean conflict veteran, 
if made within the applicable period prescribed in paragraph (3) 01 
this subsection for any of the purposes, and in compliance with the 
provisions, specified in this chapter is automatically guaranteed by 
the United States in an amount not more than 60 per centum of the 
loan if the loan is made for any of the purposes specified in section 
1810 of this title and not more than 50 per centum of the loan if the 
loan is for any of the purposes specified in section 1812, 1813, or 1814 
of this title. 
"(2) If a loan report or an application for loan guaranty relating 
to a loan under this chapter is received by the Administrator before 
the date of the expiration of the veteran's entitlement, the loan may 
be guaranteed or insured under the provisions of this chapter after 
such date. 
"(3) (A) A World War II veteran's entitlement to the benefits of 
this chapter will expire as follows: 
"(i) ten years from the date of discharge or release from the 
last period of active duty of the veteran, any part of which 
occurred during World War II, plus an additional period equal to 
one year for each three months of active duty performed by the 
veteran during World War II, except that entitlement shall not 
continue in any case after July 25, 1967, nor shall entitlement 
expire in any case prior to July 25,1962; or 
"(ii) on July 25,1967, for a veteran discharged or released for 
a service-connected disability from a period of active duty, any 
part of which occurred during World War II. 
"(B) A Korean conflict veteran's entitlement to the benefits of this 
chapter will expire as follows: 
"(i) ten years from the date of discharge or release from the 
last period of active duty of the veteran, any part of which oc-
curred during the Korean conflict, plus an additional period 
equal to one year for each three months of active duty performed 
by the veteran during the Korean conflict, except that entitlement 
shall not continue in any case after January 31, 1975, nor shall 
entitlement expire in any case prior to January 31,1965; or 
"(ii) on January 31,1975, for a veteran discharged or released 
for a service-connected disability from a period of active duty, 
any part of which occurred during the Korean conflict.'* 
(b) The last sentence of section 1802(b) of title 38, United States 
"2 stat. 1203 
Code, is amended to read as follows: "Entitlement restored under 
this subsection may be used by a World War II veteran at any time 
before July 26, 1967, and by a Korean conflict veteran at any time 
before February 1, 1975." 
(c) Section 1814(b) of title 38, United States Code, is amended (1) 
^^ stat. 1211. 
by striking out paragraph (3)L; (2) by striking out "; and" at the 
end of paragraph (2) and inserting a period; and (3^ by inserting 
"and" after the semicolon at the end of paragraph (1). 
SEC. 2. (a) Paragraphs (2) and (3) of subsection (d) of section 
72stat. 1208. 
1811 of title 38, United States Code^ are amended by striking out 
64207 0-62—16 
202 
PUBLIC LAW 87-85-JULY 11, 1961 
[75 STAT. 
"$13,600", wherever it appears in such paragraphs, and inserting in 
lieu thereof "$15,000". 
stat.l*3i'*^°^'^'^ 
(^) Subsection (h) of such section 1811 is amended to read as 
follows: 
"(h) No loan may be made under this section to any veteran after 
the expiration of his entitlement pursuant to section 1803(a) (3) of 
this title except pursuant to a commitment issued by the Adminis-
trator before such entitlement expires." 
stlf.s*32: ^^^'"^^ 
SEC. 3. (a) Section 1823(a) of title 38, United States Code, is 
amended— 
(1) by deleting "June 30, 1962" in the second sentence and 
substituting therefor "June 30, 1961"; 
(2) by changing the comma to a period in the fourth sentence 
and deleting the remainder of that sentence; 
(3) by inserting the following new sentences immediately after 
the third sentence: "The Secretary of the Treasury shall also 
advance to the Administrator from time to time such additional 
sums as the Administrator may request, not in excess of 
$100,000,000 to be immediately available, plus an additional 
amount not in excess of $400,000,000 after June 30, 1961, plus 
$200,000,000 after June 30, 1962, plus $150,000,000 after June 30, 
1963, plus $150,000,000 after June 30,1964, plus $100,000,000 after 
June 30, 1965, plus $100,000,000 after June 30, 1966. Any such 
authorized advance which is not requested by the Administrator 
in the fiscal year in which the advance may be made shall be 
made thereafter when requested by the Administrator, except that 
no such request or advance may be made after June 30,1967. Such 
authorized advances are not subject to the quarter annual limita-
tion in the second sentence of this subsection, but the amount 
authorized to be advanced in any fiscal year after June 30, 1962, 
shall be reduced only by the amount which has been returned to 
the revolving fund during the preceding fiscal year from the sale 
of loans pursuant to section 1811(g) of this title." 
(b) The last sentence of section 1823(c) of title 38, United States 
Code, is amended by striking out "June 30, 1963" and inserting in 
lieu thereof the following: "June 30,1976". 
Approved July 6, 1961. 
Public Law 87-85 
[s. 1748] 
To provide for the increased distribution of the Congressional Record to the 
Federal judiciary. 
Be it enacted hy the Senate and House of Representatives 
of the 
'R^co^A^^^'^^^^^ United States of America in Congress assembled, That section 73 of 
Yncreased distri- the Act of January 12, 1895, as amended (44 U.S.C. 183), relating to 
''"49°stat 1547 
^^® gratuitous distribution of the Congressional Record is further 
amended (a) by inserting therein immediately after the paragraph 
reading: 
"To the offices of the marshal and clerk of the Supreme Court 
of the United States, each, two copies of the daily and one semi-
monthly copy." 
an additional paragraph reading as follows: 
"To each United States circuit and district judge, and to the 
chief judge and each associate judge of the United States Court 
of Claims, the United States Court of Customs and Patent 
Appeals, the United States Customs Court, the Tax Court of the