[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4065 Introduced in House (IH)]






108th CONGRESS
  2d Session
                                H. R. 4065

 To amend title 38, United States Code, to increase the maximum amount 
of home loan guaranty available to a veteran, and to provide for annual 
                      adjustments to such amount.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 30, 2004

 Ms. Ginny Brown-Waite of Florida introduced the following bill; which 
           was referred to the Committee on Veterans' Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend title 38, United States Code, to increase the maximum amount 
of home loan guaranty available to a veteran, and to provide for annual 
                      adjustments to such amount.

    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 ``Veterans Housing Affordability Act 
of 2004''.

SEC. 2. INCREASE IN, AND ANNUAL INDEXING OF, MAXIMUM AMOUNT OF HOME 
              LOAN GUARANTY FOR CONSTRUCTION AND PURCHASE OF HOMES.

    (a) Maximum Loan Guaranty Based on 90 Percent of the Freddie Mac 
Conforming Loan Rate.--Section 3703(a)(1) of title 38, United States 
Code, is amended by striking ``$60,000'' each place it appears in 
subparagraphs (A)(i)(IV) and (B) and inserting ``the maximum guaranty 
amount (as defined in subparagraph (C))''.
    (b) Definition.--Such section is further amended by adding at the 
end the following new subparagraph:
    ``(C) In this paragraph, the term `maximum guaranty amount' means 
the dollar amount that is equal to 22.5 percent of the Freddie Mac 
conforming loan limit limitation determined under section 305(a)(2) of 
the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454(a)(2)), 
as adjusted for the year involved.''.
                                 <all>