[Congressional Record (Bound Edition), Volume 149 (2003), Part 10]
[Extensions of Remarks]
[Page 13304]
[From the U.S. Government Publishing Office, www.gpo.gov]




                 SELECTED RESERVE HOME LOAN EQUITY ACT

                                 ______
                                 

                               speech of

                        HON. SHEILA JACKSON-LEE

                                of texas

                    in the house of representatives

                         Tuesday, May 20, 2003

  Ms. JACKSON-LEE of Texas. Mr. Speaker, I rise in support of H.R. 
1257, the ``Selected Reserve Home Loan Equity Act.''
  The Selected Reserves are the reserve forces of the various branches 
of the military. Each branch of our Armed Forces, the Army, Navy, Air 
Force, and Marine Corps, have Selected Reserve Corps. Additionally, 
Coast Guard Reserves, as well as the Army National Guard and the Air 
Guard have Selected Reserve Corps.
  In Texas, the Selected Reserve Corps is thriving. Texas has 1.35 
million volunteers serving in the Guard and Selected Reserve Corps. Of 
those, 8,370 members are serving in the Coast Guard Selected Reserve
  While the Selected Reserves don't get the accolades rightfully 
showered upon our Army, Navy, Air Force, and Marines, they provide 
invaluable service to our country. Since 1990, there have been 99 major 
commitments of Americans in uniform. In each of these conflicts, both 
active duty and Selective Reserve Corps have been deployed to virtually 
every corner of the globe.
  H.R. 1257 amends Title 38 of the United States Code, ``to make 
permanent the authority for qualifying members of the Selected Reserve 
to have access to home loans guaranteed by the Secretary of Veterans 
Affairs and to provide for uniformity in fees charged qualifying 
members of the Selected Reserve and active duty veterans for such home 
loans.''
  I support H.R. 1257 because it is a way for this body to thank our 
Select Reservists the same way we thank the brave veteran men and women 
who have served their country so valiantly. The Department of Veterans 
Affairs provides our active and inactive military personnel with 
various services and benefits. One of the benefits provided is 
guaranteed home loans at reasonable fees.
  Presently, members of the Selected Reserves are eligible for 
Department of Veterans Affairs loans. However, the current program is 
scheduled to expire at the end of fiscal year 2009. Moreover, Selected 
Reservists pay a higher fee on guaranteed home loans than do active 
duty veterans. H.R. 1257 grants Selected Reservists permanent access to 
guaranteed home loans just as like veterans. Selected Reservists will 
also be eligible for the same fee structure as veterans.
  Our Selected Reservists are an important part of our exemplary 
military, and are integral to protecting our homeland and bringing 
peace throughout the world. Providing our military personnel, including 
members of the Selected Reserve with access to economically beneficial 
programs like guaranteed loans is one small way to thank them for their 
service.
  Mr. Speaker, I support H.R. 1257, and I urge my colleagues to do the 
same.

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