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H.R. 1187 (114th): To amend title 38, United States Code, to adjust certain limits on the guaranteed amount of a home loan under the home loan program of the Department of Veterans Affairs.

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The text of the bill below is as of Feb 27, 2015 (Introduced). The bill was not enacted into law.

I

114th CONGRESS

1st Session

H. R. 1187

IN THE HOUSE OF REPRESENTATIVES

February 27, 2015

(for himself, Mr. Takano, and Ms. Lofgren) introduced the following bill; which was referred to the Committee on Veterans’ Affairs

A BILL

To amend title 38, United States Code, to adjust certain limits on the guaranteed amount of a home loan under the home loan program of the Department of Veterans Affairs.

1.

Amount of loan guaranteed under home loan program of Department of Veterans Affairs

(a)

Adjustment of loan limit

Section 3703(a)(1) of title 38, United States Code, is amended—

(1)

in subparagraph (A)(i)(IV)—

(A)

by striking the lesser of; and

(B)

by striking or 25 percent of the loan; and

(2)

in subparagraph (C), by striking Freddie Mac and all that follows through the period and inserting amount of the loan..

(b)

Effective date

The amendments made by this section shall apply with respect to a loan guaranteed under section 3710 of title 38, United States Code, on or after the date that is 30 days after the date of the enactment of this Act.