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II
116TH CONGRESS
2D SESSION
S. 4656
To amend title 38, United States Code, to provide for a reduction in certain
loan fees for certain veterans affected by major disasters.
IN THE SENATE OF THE UNITED STATES
SEPTEMBER 22, 2020
Ms. HIRONO 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 provide for a
reduction in certain loan fees for certain veterans af-
fected by major disasters.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. REDUCING LOAN FEES FOR CERTAIN VET-
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ERANS AFFECTED BY MAJOR DISASTERS.
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Section 3729(b)(4) of title 38, United States Code,
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is amended—
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(1) by striking subparagraph (D), and inserting
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the following new subparagraph (D):
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‘‘(D)(i) The term ‘initial loan’ means a loan to
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a veteran guaranteed under section 3710 or made
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•S 4656 IS
under section 3711 of this title if the veteran has
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never obtained a loan guaranteed under section
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3710 or made under section 3711 of this title.
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‘‘(ii) If a veteran has obtained a loan guaran-
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teed under section 3710 or made under section 3711
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of this title and the dwelling securing such loan was
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substantially damaged or destroyed by a major dis-
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aster declared by the President under section 401 of
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the Robert T. Stafford Disaster Relief and Emer-
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gency Assistance Act (42 U.S.C. 5170), the Sec-
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retary shall treat as an initial loan, as defined in
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clause (i), the next loan the Secretary guarantees or
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makes to such veteran under section 3710 or 3711,
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respectively, if—
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‘‘(I) such loan is guaranteed or made be-
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fore the date that is three years after the date
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on which the dwelling was substantially dam-
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aged or destroyed; and
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‘‘(II) such loan is only for repairs or con-
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struction, as determined by the Secretary.’’;
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and
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(2) in subparagraph (E), by striking ‘‘if the vet-
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eran has previously obtained a loan guaranteed
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•S 4656 IS
under section 3710 or made under section 3711 of
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this title’’ and inserting ‘‘that is not an initial loan’’.
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