[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1187 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 1187

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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 27, 2015

 Mr. Zeldin (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.

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

SECTION 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.
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