Sec. 205. Eligibility of certain direct descendants of certain veterans for housing loans guaranteed by the Secretary of Veterans Affairs
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Section 3701(b) of title 38, United States Code, is amended by adding at the end the following new paragraph: The term veteran also includes, for purposes of home loans, any direct descendant of a veteran described in subparagraph
(B)if the descendant is living on the date of the enactment of the American Housing and Economic Mobility Act of 2021 . A veteran described in this clause is a veteran who— served on active duty at any time during the period between June 22, 1944, and April 11, 1968; is deceased; and did not receive a housing loan benefit under this chapter during his or her lifetime. In this paragraph, the term direct descendant includes a legally adopted descendant. . Section 3702(a)(2) of such title is amended by adding at the end the following new subparagraph: Each direct descendant described in section 3701(b)(8) of this title. . The amendments made by this section shall take effect on the date that is one year after the date of the enactment of this Act. Not later than 180 days after the date of the enactment of this Act, the Secretary of Veterans Affairs shall prescribe regulations to carry out the amendments made by this section.