,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #ahhe  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #h1 #bjac ,mrs4  
,davis ( ,cali=nia 7= h]self1 ,mr4      
,l[5?al1 ,ms4 ,bonamici1 ,mr4 ,takano1 &
 ,mr4 ,huffman7 introduc$ ! foll[+ bill2
 :i* 0 ref]r$ to ! ,committee on ,ways &
 ,means  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to all[ eligible  
vet]ans to use qualifi$ vet]ans mortgage
 bonds to ref9ance home loans1 & = o!r  
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,vet]ans ,home ,loan       
,ref9ance ,opportunity ,act ( #bjac4    
#b4 ,modification ( qualifi$ vet]ans'   
mortgage bonds program to all[ eligible 
vet]ans to ref9ance curr5t home loans   
7a7 ,elim9ation ( ref9ance prohibition =
 vet]ans' bonds ,section #adc7;b7 ( !   
,int]nal ,rev5ue ,code ( #aihf 7relat+  
to qualifi$ vet]ans' mortgage bond      
def9$7 is am5d$--  7#a7 9 p>agraph 7#a7 
by /rik+ resid5ces & ins]t+ resid5ces or
 qualifi$ ref9anc+ loans1 &  7#b7 9     
p>agraph 7#c7 by /rik+ 7i77#a714  7b7   

,def9ition ,section #adc7l7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf 7relat+ to       
additional requirem5ts = qualifi$       
vet]ans' mortgage bonds7 is am5d$ by    
add+ at ! end ! foll[+3  7#f7 ,qualifi$ 
ref9anc+ loan ,= purposes ( ?is         
subsection1 ! t]m qualifi$ ref9anc+ loan
 means a loan t is us$ to ref9ance      
acquisition indebt$ness 7z def9$ 9      
subclauses 7,i7 & 7,,ii7 ( section      
#afc7;h77#c77;,b77i77 = a pr9cipal      
resid5ce 7)9 ! mean+ ( section #aba74  4
  7c7 ,effective date ,! am5dm5ts made  
by ?is section %all apply to bonds issu$
 aft] ! date ( enactm5t ( ?is ,act4  #c4
 ,inflation adju/m5t ( /ate vet]ans     
limit  7a7 ,9 g5]al ,p>agraph 7#c7 (    
section #adc7l7 ( ! ,int]nal ,rev5ue    
,code ( #aihf 7relat+ to volume         
limitation7 is am5d$ by add+ at ! end ! 
foll[+ new subp>agraph3  7,d7           
,limitation adju/m5t bas$ on inflation  
7i7 ,9 g5]al ,9 ! case ( any cal5d> ye> 
aft] #bjac1 ! limit det]m9$ "u          
subp>agraph 7,b7 = a ,/ate %all be      

adju/$ = su* cal5d> ye> by multiply+ su*
 limit by ! inflation adju/m5t factor = 
! cal5d> ye>4  7ii7 ,computation (      
inflation adju/m5t factor ,= purposes ( 
clause 7i7--  7,i7 ,9 g5]al ,! ,secret>y
 %all1 n lat] ?an ea* ,octob] #a1       
det]m9e & publi% 9 ! ,f$]al ,regi/] !   
inflation adju/m5t factor = ! succe$+   
cal5d> ye> 9 accordance ) ?is clause4   
7,,ii7 ,inflation adju/m5t factor ,! t]m
 inflation adju/m5t factor means1 )     
respect to a cal5d> ye>1 a fraction !   
num]ator ( :i* is ! ,,cmhpi = ! second  
qu>t] ( ! cal5d> ye> prec$+ ! cal5d> ye>
 = :i* ! adju/m5t is be+ made1 & !      
d5om9ator ( :i* is ! ,,cmhpi = ! second 
qu>t] ( cal5d> ye> #bjac4  7,,iii7      
,,cmhpi ,! t]m ,,cmhpi means !          
,conv5tional ,mortgage ,home ,price     
,index compil$ by ,f$]al ,home ,loan    
,mortgage ,corporation4 ,! ,,cmhpi = any
 qu>t] %all be ! ,,cmhpi fir/ publi%$ = 
su* qu>t]4  7,,iv7 ,limitation ,no      
adju/m5t %all be made "u clause 7i7 =   
any ye> 9 :i* ! fraction 9 subclause    

7,,ii7 is less ?an #a4  4  7b7          
,effective date ,! am5dm5ts made by ?is 
section %all apply to bonds issu$ aft] !
 date ( ! enactm5t ( ?is ,act4  #d4     
,modification ( mat]ially high] yield = 
mortgages made f qualifi$ vet]ans'      
mortgage bonds  7a7 ,mortgage yield     
limitation measur$ "u g5]al program     
obligation provisions  7#a7 ,effective  
mortgage int]e/ limitation except$      
,p>agraph 7#c7 ( section #adc7;b7 ( !   
,int]nal ,rev5ue ,code ( #aihf 7relat+  
to qualifi$ vet]ans' mortgage bond      
def9$7 is am5d$ by ins]t+ 7o!r ?an      
p>agraph 7#b7 !re(7 aft] 7g74  7#b7     
,increase 9 yield limit ,subp>agraph    
7,c7 ( section #adc7;g77#c7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf 7relat+ to       
requirem5ts relat$ to arbitrage7 is     
am5d$ by /rik+ #a4abe p]c5tage po9ts &  
ins]t+ #a4ej p]c5tage po9ts4  7#c7      
,cl]ical am5dm5t ,section #adc7;g77#c7 (
 su* ,code 7relat+ to requirem5ts relat$
 to arbitrage7 is am5d$ 9 ! head+ =     
subp>agraph 7,c7 by /rik+ :]e issu] does

 n use full #a4abe p]c5tage po9ts "u    
p>agraph 7#b7 & ins]t+ = c]ta9 unus$    
am\nts4  7b7 ,effective date ,! am5dm5ts
 made by ?is section %all apply to      
obligations issu$ aft] ! date ( !       
enactm5t ( ?is ,act4