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38 U.S.C. § 2051 — General authority
Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Secretary may guarantee the full or partial repayment of a loan that meets the requirements of this subchapter.
**(b)**
(1) Not more than 15 loans may be guaranteed under subsection (a), of which not more than five such loans may be guaranteed during the 3-year period beginning on the date of the enactment of this subchapter.
(2) A guarantee of a loan under subsection (a) shall be in an amount that is not less than the amount necessary to sell the loan in a commercial market.
(3) Not more than an aggregate amount of $100,000,000 in loans may be guaranteed under subsection (a).
**(c)** A loan may not be guaranteed under this subchapter unless, before closing such loan, the Secretary has approved the loan.
**(d)**
(1) The Secretary shall enter into contracts with a qualified nonprofit organization, or other qualified organization, that has experience in underwriting transitional housing projects to obtain advice in carrying out this subchapter, including advice on the terms and conditions necessary for a loan that meets the requirements of [section 2052 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section2052&num=0&edition=prelim).
(2) For purposes of paragraph (1), a nonprofit organization is an organization that is described in paragraph (3) or (4) of subsection (c) of section 501 of the Internal Revenue Code of 1986 and is exempt from tax under subsection (a) of such section.
**(e)** The Secretary may carry out this subchapter in advance of the issuance of regulations for such purpose.
**(f)** The Secretary may guarantee loans under this subchapter notwithstanding any requirement for prior appropriations for such purpose under any provision of law.
**(g)** Notwithstanding any other provision of law, a multif
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Source file: Laws/federal/codes/united-states-code/title-38/section-2051-general-authority--23919795ba.md
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Source location: Title 38, Chapter 20, § 2051; chapter-020-benefits-for-homeless-veterans.md
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**(a)** The Secretary may guarantee the full or partial repayment of a loan that meets the requirements of this subchapter.
**(b)**
(1) Not more than 15 loans may be guaranteed under subsection (a), of which not more than five such loans may be guaranteed during the 3-year period beginning on the date of the enactment of this subchapter.
(2) A guarantee of a loan under subsection (a) shall be in an amount that is not less than the amount necessary to sell the loan in a commercial market.
(3) Not more than an aggregate amount of $100,000,000 in loans may be guaranteed under subsection (a).
**(c)** A loan may not be guaranteed under this subchapter unless, before closing such loan, the Secretary has approved the loan.
**(d)**
(1) The Secretary shall enter into contracts with a qualified nonprofit organization, or other qualified organization, that has experience in underwriting transitional housing projects to obtain advice in carrying out this subchapter, including advice on the terms and conditions necessary for a loan that meets the requirements of [section 2052 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section2052&num=0&edition=prelim).
(2) For purposes of paragraph (1), a nonprofit organization is an organization that is described in paragraph (3) or (4) of subsection (c) of section 501 of the Internal Revenue Code of 1986 and is exempt from tax under subsection (a) of such section.
**(e)** The Secretary may carry out this subchapter in advance of the issuance of regulations for such purpose.
**(f)** The Secretary may guarantee loans under this subchapter notwithstanding any requirement for prior appropriations for such purpose under any provision of law.
**(g)** Notwithstanding any other provision of law, a multifamily transitional housing project that is funded by a loan guaranteed under this subchapter may accept uncompensated voluntary services performed by any eligible entity (as that term is defined in [section 2011(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section2011/d&num=0&edition=prelim)) in connection with the construction, alteration, or repair of such project.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** A loan referred to in [section 2051 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section2051&num=0&edition=prelim) meets the requirements of this subchapter if each of the following requirements is met:
(1) The loan—
(A) is for—
(i) construction of, rehabilitation of, or acquisition of land for a multifamily transitional housing project described in subsection (b), or more than one of such purposes; or
(ii) refinancing of an existing loan for such a project; and
(B) may also include additional reasonable amounts for—
(i) financing acquisition of furniture, equipment, supplies, or materials for the project; or
(ii) in the case of a loan made for purposes of subparagraph (A)(i), supplying the organization carrying out the project with working capital relative to the project.
(2) The loan is made in connection with funding or the provision of substantial property or services for such project by either a State or local government or a nongovernmental entity, or both.
(3) The maximum loan amount does not exceed the lesser of—
(A) that amount generally approved (utilizing prudent underwriting principles) in the consideration and approval of projects of similar nature and risk so as to assure repayment of the loan obligation; and
(B) 90 percent of the total cost of the project.
(4) The loan is of sound value, taking into account the creditworthiness of the entity (and the individual members of the entity) applying for such loan.
(5) The loan is secured.
(6) The loan is subject to such terms and conditions as the Secretary determines are reasonable, taking into account other housing projects with similarities in size, location, population, and services provided.
**(b)** For purposes of this su
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Exemption from taxation** An organization described in subsection (c) or (d) or section 401(a) shall be exempt from taxation under this subtitle unless such exemption is denied under section 502 or 503.
**(b) Tax on unrelated business income and certain other activities** An organization exempt from taxation under subsection (a) shall be subject to tax to the extent provided in parts II, III, and VI of this subchapter, but (notwithstanding parts II, III, and VI of this subchapter) shall be considered an organization exempt from income taxes for the purpose of any law which refers to organizations exempt from income taxes.
**(c) List of exempt organizations** The following organizations are referred to in subsection (a):
(1) Any corporation organized under Act of Congress which is an instrumentality of the United States but only if such corporation—
(A) is exempt from Federal income taxes—
(i) under such Act as amended and supplemented before July 18, 1984, or
(ii) under this title without regard to any provision of law which is not contained in this title and which is not contained in a revenue Act, or
(B) is described in subsection (l).
(2) Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt under this section. Rules similar to the rules of subparagraph (G) of paragraph (25) shall apply for purposes of this paragraph.
(3) Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or to foster national or international amateur sports competition (but only
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Secretary shall insure any individual under 70 years of age who has received assistance under this chapter against the death of the individual except for an individual who—
(1) elects in writing to not receive insurance under this section;
(2) fails to respond in a timely manner to a request from the Secretary for information on which the premium for such insurance can be based; or
(3) receives such assistance under [section 2102B of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section2102b&num=0&edition=prelim).
**(b)** The amount of insurance provided an individual under this section may not exceed the lesser of $150,000, or after January 1, 2012, $200,000, or the amount of the loan outstanding on the housing unit. The amount of such insurance shall be reduced according to the amortization schedule of the loan and may not at any time exceed the amount of the outstanding loan with interest. If there is no outstanding loan on the housing unit, insurance is not payable under this section. If an eligible individual elects not to be insured under this section, the individual may thereafter be insured under this section, but only upon submission of an application, payment of required premiums, and compliance with such health requirements and other terms and conditions as may be prescribed by the Secretary.
**(c)** The premiums charged an individual for insurance under this section shall be paid at such time and in such manner as the Secretary prescribes. The rates for such premiums shall be based on such mortality data as the Secretary considers appropriate to cover only the mortality cost of insuring standard lives. In the case of an individual receiving compensation or other cash benefits paid to the individual by the S
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Federal law — U.S. Code and appendices · legal_authorities
Page 585
TITLE 38—VETERANS’ BENEFITS
§ 2051
median income for an area if the Secretary de-
termines that such variations are necessary
because the area has unusually high or low
construction costs, fair market rents (as de-
termined under section 8 of the United States
Housing Act of 1937 (42 U.S.C. 1437f)), or family
incomes.
(7) The term ‘‘veteran family’’ includes a
veteran who is a single person and a family in
which the head of household or the spouse of
the head of household is a veteran.
(Added Pub. L. 110–387, title VI, § 604(b)(1), Oct.
10, 2008, 122 Stat. 4132; amended Pub. L. 111–275,
title X, § 1001(e), Oct. 13, 2010, 124 Stat. 2896; Pub.
L. 112–37, § 12, Oct. 5, 2011, 125 Stat. 397; Pub. L.
112–154, title III, § 305(c), Aug. 6, 2012, 126 Stat.
1187; Pub. L. 113–37, § 2(f)(2), Sept. 30, 2013, 127
Stat. 524; Pub. L. 113–175, title II, § 206, Sept. 26,
2014, 128 Stat. 1904; Pub. L. 114–58, title III, § 304,
title VI, § 601(9), Sept. 30, 2015, 129 Stat. 534, 538;
Pub. L. 114–228, title III, § 305, Sept. 29, 2016, 130
Stat. 939; Pub. L. 115–62, title III, § 304, Sept. 29,
2017, 131 Stat. 1163; Pub. L. 115–251, title I, § 145,
Sept. 29, 2018, 132 Stat. 3170; Pub. L. 116–61, § 4,
Sept. 30, 2019, 133 Stat. 1116; Pub. L. 116–159, div.
E, title III, § 5305, Oct. 1, 2020, 134 Stat. 751; Pub.
L. 117–180, div. E, title III, § 304, Sept. 30, 2022, 136
Stat. 2138; Pub. L. 117–328, div. U, title III,
§ 305(a), Dec. 29, 2022, 136 Stat. 5471; Pub. L.
118–83, div. B, title III, § 325, Sept. 26, 2024, 138
Stat. 1541.)
Editorial Notes
CODIFICATION
Pub. L. 112–37, § 12, Oct. 5, 2011, 125 Stat. 397, which di-
rected amendment of ‘‘section 2044’’ without specifying
the Code title to be amended, was executed to this sec-
tion, which is section 2044 of
Source: Supplied 2024 U.S. Code historical extraction · 38 U.S.C. § 2051
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