A bill to amend chapter 37 of title 38, United States Code, to permit veterans to refinance outstanding loans previously guaranteed under such chapter.
Latest action. Referred to Senate Committee on Veterans' Affairs.
(Measure passed House, amended, roll call #431 (382-0)) Permits veterans to refinance previously guaranteed mortgage loans which are secured by homes they still own and occupy. Sets forth conditions and requirements pursuant to such loans as follows: (1) the amount of such loan may not exceed the sum of the balance of the loan being refinanced and the amount of closing costs, including discounts; (2) the guaranty amount may not exceed the original guaranty amount being refinanced; and (3) such loans may be made regardless of the outstanding guaranty entitlement for the veteran, with no further charge to such veteran's entitlement.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Passed House amended" stage on July 28, 1980. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on July 29, 1980: Referred to Senate Committee on Veterans' Affairs.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 96th Congress (1979-80), 613 of the 12,581 bills and joint resolutions introduced became law, about 4.9 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
JACK BRINKLEY (D-GA) introduced it on May 29, 1980, and 29 members have since signed on as cosponsors.
They come from both major parties: 16 Democrats, 13 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on May 29, 1980, 16952 days ago. The most recent recorded action was 16891 days ago, on July 29, 1980.
Measures do not carry over. Anything the 96th Congress has not finished by January 3, 1981 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers