[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 4656 Introduced in Senate (IS)]

<DOC>






116th CONGRESS
  2d Session
                                S. 4656

 To amend title 38, United States Code, to provide for a reduction in 
  certain loan fees for certain veterans affected by major disasters.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 22, 2020

  Ms. Hirono introduced the following bill; which was read twice and 
             referred to the Committee on Veterans' Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend title 38, United States Code, to provide for a reduction in 
  certain loan fees for certain veterans affected by major disasters.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REDUCING LOAN FEES FOR CERTAIN VETERANS AFFECTED BY MAJOR 
              DISASTERS.

    Section 3729(b)(4) of title 38, United States Code, is amended--
            (1) by striking subparagraph (D), and inserting the 
        following new subparagraph (D):
            ``(D)(i) The term `initial loan' means a loan to a veteran 
        guaranteed under section 3710 or made under section 3711 of 
        this title if the veteran has never obtained a loan guaranteed 
        under section 3710 or made under section 3711 of this title.
            ``(ii) If a veteran has obtained a loan guaranteed under 
        section 3710 or made under section 3711 of this title and the 
        dwelling securing such loan was substantially damaged or 
        destroyed by a major disaster declared by the President under 
        section 401 of the Robert T. Stafford Disaster Relief and 
        Emergency Assistance Act (42 U.S.C. 5170), the Secretary shall 
        treat as an initial loan, as defined in clause (i), the next 
        loan the Secretary guarantees or makes to such veteran under 
        section 3710 or 3711, respectively, if--
                    ``(I) such loan is guaranteed or made before the 
                date that is three years after the date on which the 
                dwelling was substantially damaged or destroyed; and
                    ``(II) such loan is only for repairs or 
                construction, as determined by the Secretary.''; and
            (2) in subparagraph (E), by striking ``if the veteran has 
        previously obtained a loan guaranteed under section 3710 or 
        made under section 3711 of this title'' and inserting ``that is 
        not an initial loan''.
                                 <all>