3.0.0 1266 2024-07-24T15:23:34Z 2024-07-24T15:23:34Z House H HR 2023-02-28 118 [Congressional Record Volume 169, Number 38 (Tuesday, February 28, 2023)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. TIMMONS:H.R. 1266.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8 of the U.S. ConstitutionThe single subject of this legislation is:Armed Forces and National Security[Page H972]]]> hsvr00 Veterans' Affairs Committee House Standing hsvr10 Economic Opportunity Subcommittee Referred to 2023-03-23T21:57:47Z Referred to 2023-02-28T15:04:50Z 2023-03-23 hsvr10 Economic Opportunity Subcommittee 1 House committee actions Referred to the Subcommittee on Economic Opportunity. Committee 2023-02-28 Referred to the House Committee on Veterans' Affairs. IntroReferral H11100 2 House floor actions hsvr00 Veterans' Affairs Committee 2023-02-28 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-02-28 Introduced in House IntroReferral 1000 9 Library of Congress T000480 Rep. Timmons, William R. IV [R-SC-4] William Timmons R SC R. 4 N L000593 Rep. Levin, Mike [D-CA-49] Mike Levin D CA 49 2023-02-28 True M000194 Rep. Mace, Nancy [R-SC-1] Nancy Mace R SC 1 2023-05-24 False Armed Forces and National Security Armed Forces and National Security 2023-03-16T19:30:20Z 00 2023-02-28 Introduced in House 2023-03-23T10:58:39Z Building Credit Access for Veterans Act of 2023

This bill requires the Department of Veterans Affairs (VA) to implement a pilot program to assess the feasibility and advisability of using alternative credit scoring information or models to improve the determination of creditworthiness of certain individuals and to increase the number of such individuals who are able to obtain VA housing and small business loans. Specifically, the program is for veterans or members of the Armed Forces who are eligible for VA housing or small business loans and have insufficient credit history.

Under the program, the VA must assess the feasibility and advisability of establishing criteria for acceptable commercially available credit scoring models to be used by lenders for the purpose of guaranteeing or insuring a VA housing or small business loan.

Participation is voluntary on an opt-in basis for lenders, borrowers, and individuals.

The VA must conduct outreach to lenders and individuals to inform them of the pilot program.

]]> Building Credit Access for Veterans Act of 2023 Display Title 45 Building Credit Access for Veterans Act of 2023 2024-07-24T15:23:34Z Short Title(s) as Introduced 101 Building Credit Access for Veterans Act of 2023 2024-05-24T13:42:05Z Introduced in House IH Official Title as Introduced 6 To require the Secretary of Veterans Affairs to carry out a pilot program on using alternative credit scoring information for veterans and members of the Armed Forces, and for other purposes. 2024-03-18T20:23:40Z Introduced in House IH Introduced in House 2023-02-28T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr1266ih/xml/BILLS-118hr1266ih.xml 2023-03-23 Referred to the Subcommittee on Economic Opportunity. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.