This bill expands specified benefits programs for veterans and their survivors and establishes a supplemental monthly allowance for certain disabled veterans.
The bill establishes a supplemental monthly allowance of $833.33 for veterans who are already eligible for a monthly aid and attendance allowance due to service-connected disabilities or traumatic brain injury.
The bill increases the rate of dependency and indemnity compensation (DIC) by an additional 1% the next time DIC is adjusted for cost of living and an additional 0.5% the following adjustment. DIC is a monthly payment made to eligible survivors of (1) certain veterans who died due to a service-connected condition; (2) service members killed in the line of duty; or (3) veterans who were totally disabled by a service-connected disability for a certain period.
The bill expands eligibility for loans under the Department of Veterans Affairs (VA) home loan program to certain members of the reserve components and National Guard by expanding what qualifies as active duty. The bill includes annual training duty as qualifying active duty and grants eligibility for VA loan guarantees after 14 days of active-duty service (with an additional fee).
Under the VA home loan program, the bill extends certain loan fee rates through September 30, 2036, and increases the fees for certain refinancing loans and loan assumptions.
The bill extends the limitation on pension amounts for certain hospitalized or institutionalized veterans through September 30, 2036.