[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 1299 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 1299

  To amend title 38, United States Code, to require the Secretary of 
Veterans Affairs to periodically review the automatic maximum coverage 
    under the Servicemembers' Group Life Insurance program and the 
    Veterans' Group Life Insurance program, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 26, 2023

Mr. Cornyn (for himself, Ms. Hassan, Mr. Braun, Mr. Cruz, Mr. King, Ms. 
 Hirono, and Mr. Kelly) 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 require the Secretary of 
Veterans Affairs to periodically review the automatic maximum coverage 
    under the Servicemembers' Group Life Insurance program and the 
    Veterans' Group Life Insurance program, and for other purposes.

    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 ``Fairness for Servicemembers and 
their Families Act of 2023''.

SEC. 2. PERIODIC REVIEW OF AUTOMATIC MAXIMUM COVERAGE UNDER 
              SERVICEMEMBERS' GROUP LIFE INSURANCE AND VETERANS' GROUP 
              LIFE INSURANCE.

    (a) In General.--Subchapter III of chapter 19 of title 38, United 
States Code, is amended by adding at the end the following new section:
``Sec. 1980B. Periodic review of automatic maximum coverage
    ``(a) In General.--On January 1, 2024, and every three years 
thereafter, the Secretary shall--
            ``(1) complete a review of how the amount specified in 
        section 1967(a)(3)(A)(i) compares to the amount described in 
        subsection (b); and
            ``(2) submit to the Committee on Veterans' Affairs of the 
        Senate and the Committee on Veterans' Affairs of the House of 
        Representatives the results of the review.
    ``(b) Amount Described.--The amount described in this subsection is 
the amount equal to--
            ``(1) $400,000; multiplied by
            ``(2) the percentage of the increase (if any) in the 
        average of the Consumer Price Index for the fiscal year ending 
        during the preceding calendar year compared to the average of 
        the Consumer Price Index for fiscal year 2005.
    ``(c) Consumer Price Index Defined.--In this section, the term 
`Consumer Price Index' means the Consumer Price Index for All Urban 
Consumers published by the Bureau of Labor Statistics of the Department 
of Labor.''.
    (b) Clerical Amendment.--The table of sections at the beginning of 
chapter 19 of such title is amended by inserting after the item 
relating to section 1980A the following new item:

``1980B. Periodic review of automatic maximum coverage.''.
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