S. 2794 — Engrossed in Senate

117th CONGRESS 2d Session S. 2794 AN ACT To amend title 38, United States Code, to increase automatic maximum coverage under the Servicemembers’ Group Life Insurance program and the Veterans’ Group Life Insurance program, and for other purposes. 1. Short title This Act may be cited as the Supporting Families of the Fallen Act. 2. Increase in automatic maximum coverage under Servicemembers' Group Life Insurance and Veterans' Group Life Insurance (a) In general Section 1967(a)(3)(A)(i) of title 38, United States Code, is amended by striking $400,000 and inserting $500,000. (b) Effective date The amendment made by subsection (a) shall take effect on the later of— (1) the date that is 60 days after the date of the enactment of this Act; or (2) the date on which the Secretary of Veterans Affairs determines that— (A) the amount for which a member will be insured pursuant to the amendment made by subsection (a) and the premiums for such amount are administratively and actuarially sound for the Servicemembers' Group Life Insurance program under subchapter III of chapter 19 of title 38, United States Code, and the Veterans' Group Life Insurance program under section 1977 of such title; and (B) the increase in such amount carried out pursuant to the amendment will not result in such programs operating at a loss. Passed the Senate March 23, 2022.Secretary