[Congressional Record Volume 170, Number 114 (Wednesday, July 10, 2024)]
[Senate]
[Page S4397]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2152. Mr. CORNYN (for himself and Ms. Hassan) submitted an 
amendment intended to be proposed by him to the bill S. 4638, to 
authorize appropriations for fiscal year 2025 for military activities 
of the Department of Defense, for military construction, and for 
defense activities of the Department of Energy, to prescribe military 
personnel strengths for such fiscal year, and for other purposes; which 
was ordered to lie on the table; as follows:

        At the appropriate place in title X, insert the following:

     SEC. 10__. 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, 2025, and every five 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 Committees on Veterans' Affairs of the 
     House of Representatives and the Senate the results of the 
     review, which may serve as a guide for coverage increases 
     within the existing administrative incremental structure.
       ``(b) Amount Described.--The amount described in this 
     subsection is the amount equal to--
       ``(1) $500,000; multiplied by
       ``(2) the average percentage by which the Consumer Price 
     Index changed during the five fiscal years preceding the 
     review under subsection (a).
       ``(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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