38 U.S.C. § 3734 — Annual submission of information on the

Page 934 TITLE 38—VETERANS’ BENEFITS § 3734 provision of law has been enacted amending section 1833 [now 3733] of title 38, United States Code, by adding a new subsection (e) with a text substantively identical to the text of the new subsection (e) added to such sec- tion 1833 [now 3733] by subsection (a)(3) of this section, the provisions of subsection (a)(1) of this section amending subsection (a)(3) of such section 1833 [now 3733] shall not take effect.’’ Pub. L. 101–237, title III, § 305(b)(2), Dec. 18, 1989, 103 Stat. 2074, as amended by Pub. L. 102–83, § 5(c)(2), Aug. 6, 1991, 105 Stat. 406, provided that: ‘‘Subsection (e) of section 1833 [now 3733] of such title 38, as added by sub- section (a)(3), shall apply with respect to amounts re- ferred to in such subsection (e) received after Sep- tember 30, 1989.’’ EFFECTIVE DATE OF 1987 AMENDMENTS Pub. L. 100–203, title VII, § 7003(b), Dec. 22, 1987, 101 Stat. 1330–279, provided that: ‘‘The amendment made by subsection (a) [amending this section] shall take effect as of October 1, 1987.’’ Pub. L. 100–198, § 6(a)(2), Dec. 21, 1987, 101 Stat. 1318, provided that: ‘‘The amendment made by paragraph (1) [amending this section] shall take effect as of October 1, 1987.’’ Pub. L. 100–198, § 6(b)(2), Dec. 21, 1987, 101 Stat. 1318, provided that: ‘‘The amendment made by this sub- section [amending this section] shall apply to loans made more than 30 days after the date of the enact- ment of this Act [Dec. 21, 1987].’’ EFFECTIVE DATE OF 1984 AMENDMENT Amendment by Pub. L. 98–369 effective Oct. 1, 1984, see section 2512(c) of Pub. L. 98–369, as amended, set out as a note under section 3732 of this title. RULE FOR CONSTRUCTION OF DUPLICATE PROVISIONS Pub. L. 100–203, title VII, § 7004(b), Dec. 22, 1987, 101 Stat. 1330–280, provided that: ‘‘In applying the provi- sions of this title [title VII of Pub. L. 100–203] and the provisions of the Veterans’ Home Loan Program Im- provements and Property Rehabilitation Act of 1987 [Pub. L. 100–198] which make the same amendments as the provisions of this title [amending sections 1816 [now 3733] and 1829 [now 3729] of this title]— ‘‘(1) the identical provisions of title 38, United States Code, amended by the provisions of this title and the provisions of such Act shall be treated as having been amended only once; and ‘‘(2) in executing to title 38, United States Code, the amendments made by this title and by such Act, such amendments shall be executed so as to appear only once in the law.’’ REPORT TO CONGRESS Pub. L. 100–198, § 6(c), Dec. 21, 1987, 101 Stat. 1318, di- rected Administrator of Veterans’ Affairs, by Mar. 1, 1990, to transmit to Congress a report of activities car- ried out, through Dec. 31, 1989, under paragraphs (4) and (5) of section 1816(d) of this title [which became pars. (4) and (5) of subsec. (a) of this section]. § 3734. Annual submission of information on the Veterans Housing Benefit Program Fund and housing programs (a) In the documents providing detailed infor- mation on the budget for the Department of Veterans Affairs that the Secretary submits to the Congress in conjunction with the President’s budget submission for each fiscal year pursuant to section 1105 of title 31, the Secretary shall in- clude— (1) a description of the operations of the Vet- erans Housing Benefit Program Fund during the fiscal year preceding the fiscal year in which such budget is submitted; and (2) the needs of such fund, if any, for appro- priations for— (A) the fiscal year in which the budget is submitted; and (B) the fiscal year for which the budget is submitted. (b) The matters submitted under subsection (a) of this section shall include, with respect to the fund referred to in subsection (a), the fol- lowing: (1) Information and financial data on the op- erations of the fund during the fiscal year be- fore the fiscal year in which such matters are submitted and estimated financial data and related information on the operation of the fund for— (A) the fiscal year of the submission; and (B) the fiscal year following the fiscal year of the submission. (2) Estimates of the amount of revenues de- rived by the fund in the fiscal year preceding the fiscal year of the submission, in the fiscal year of the submission, and in the fiscal year following the fiscal year of the submission from each of the following sources: (A) Fees collected under section 3729(a) of this title for each category of loan guaran- teed, insured, or made under this chapter or collected under section 3729(b) of this title for assumed loans. (B) Investment income. (C) Sales of foreclosed properties. (D) Loan asset sales. (E) Each additional source of revenue. (3) Information, for each fiscal year referred to in paragraph (2) of this subsection, regard- ing the types of dispositions made and antici- pated to be made of defaults on loans guaran- teed, insured, or made under this chapter, in- cluding the cost to the fund, and the numbers, of such types of dispositions. (c) The information submitted under sub- section (a) shall include a statement that sum- marizes the financial activity of each of the housing programs operated under this chapter. The statement shall be presented in a form that is simple, concise, and readily understandable, and shall not include references to financing ac- counts, liquidating accounts, or program ac- counts. (Added Pub. L. 101–237, title III, § 302(b)(1), Dec. 18, 1989, 103 Stat. 2070, § 1834; renumbered § 3734 and amended Pub. L. 102–83, § 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 406; Pub. L. 105–368, title VI, § 602(d), (e)(1)(F), (3)(A), Nov. 11, 1998, 112 Stat. 3346, 3347; Pub. L. 107–14, § 8(a)(9), June 5, 2001, 115 Stat. 35; Pub. L. 107–330, title III, § 308(g)(12), Dec. 6, 2002, 116 Stat. 2829.) Editorial Notes AMENDMENTS 2002—Subsec. (b)(2)(B) to (F). Pub. L. 107–330 redesig- nated subpars. (C) to (F) as (B) to (E), respectively, and struck out former subpar. (B) which read as follows: ‘‘Federal Government payments under section 3729(a)(3) of this title.’’ 2001—Subsec. (a). Pub. L. 107–14, § 8(a)(9)(A), struck out ‘‘United States Code,’’ after ‘‘section 1105 of title 31,’’ in introductory provisions. Subsec. (a)(2). Pub. L. 107–14, § 8(a)(9)(B), substituted ‘‘appropriations for’’ for ‘‘appropriations in’’. Page 935 TITLE 38—VETERANS’ BENEFITS § 3742 1998—Pub. L. 105–368, § 602(e)(3)(A), substituted ‘‘Vet- erans Housing Benefit Program Fund and housing pro- grams’’ for ‘‘Loan Guaranty Revolving Fund and the Guaranty and Indemnity Fund’’ in section catchline. Subsec. (a)(1). Pub. L. 105–368, § 602(e)(1)(F)(i)(I), sub- stituted ‘‘Veterans Housing Benefit Program Fund’’ for ‘‘Loan Guaranty Revolving Fund and the Guaranty and Indemnity Fund’’. Subsec. (a)(2). Pub. L. 105–368, § 602(e)(1)(F)(i)(II), sub- stituted ‘‘fund,’’ for ‘‘funds,’’ in introductory provi- sions. Subsec. (b). Pub. L. 105–368, § 602(e)(1)(F)(ii), sub- stituted ‘‘the fund’’ for ‘‘each fund’’ in introductory provisions. Subsec. (b)(2)(B) to (G). Pub. L. 105–368, § 602(e)(1)(F)(iii), redesignated subpars. (C) to (G) as (B) to (F), respectively, in subpar. (B), substituted ‘‘section 3729(a)(3)’’ for ‘‘subsections (a)(3) and (c)(2) of section 3729’’, and struck out former subpar. (B) which read as follows: ‘‘Federal Government contributions made under clauses (A) and (B) of section 3725(c)(2) of this title.’’ Subsec. (c). Pub. L. 105–368, § 602(d), added subsec. (c). 1991—Pub. L. 102–83, § 5(a), renumbered section 1834 of this title as this section. Subsec. (b)(2). Pub. L. 102–83, § 5(c)(1), substituted ‘‘3729(a)’’ for ‘‘1829(a)’’ and ‘‘3729(b)’’ for ‘‘1829(b)’’ in subpar. (A), ‘‘3725(c)(2)’’ for ‘‘1825(c)(2)’’ in subpar. (B), and ‘‘3729’’ for ‘‘1829’’ in subpar. (C). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1998 AMENDMENT Amendment by Pub. L. 105–368 effective Oct. 1, 1998, see section 602(f) of Pub. L. 105–368, set out as a note under section 2106 of this title. [§ 3735. Renumbered § 2041] § 3736. Reporting requirements The annual report required by section 529 of this title shall include a discussion of the activi- ties under this chapter. Beginning with the re- port submitted at the close of fiscal year 1996, and every second year thereafter, this discussion shall include information regarding the fol- lowing: (1) Loans made to veterans whose only quali- fying service was in the Selected Reserve. (2) Interest rates and discount points which were negotiated between the lender and the veteran pursuant to section 3703(c)(4)(A)(i) of this title. (3) The determination of reasonable value by lenders pursuant to section 3731(f) of this title. (4) Loans that include funds for energy effi- ciency improvements pursuant to section 3710(a)(10) of this title. (5) Direct loans to Native American veterans made pursuant to subchapter V of this chap- ter. (Added Pub. L. 104–110, title II, § 201(a)(1), Feb. 13, 1996, 110 Stat. 770.) SUBCHAPTER IV—SMALL BUSINESS LOANS § 3741. Definitions For the purposes of this subchapter— (1) The term ‘‘disabled veteran’’ means (A) a veteran who is entitled to compensation under laws administered by the Secretary for a dis- ability rated at 30 percent or more, or (B) a veteran whose discharge or release from active duty was for a disability incurred or aggra- vated in line of duty. (2) The term ‘‘veteran of the Vietnam era’’ means a person (A) who served on active duty for a period of more than 180 days, any part of which occurred during the Vietnam era, and who was discharged or released therefrom with other than a dishonorable discharge, or (B) who was discharged or released from active duty for a service-connected disability if any part of such active duty was performed during the Vietnam era. (Added Pub. L. 97–72, title III, § 302(a), Nov. 3, 1981, 95 Stat. 1055, § 1841; amended Pub. L. 99–576, title VII, § 702(9), Oct. 28, 1986, 100 Stat. 3302; re- numbered § 3741 and amended Pub. L. 102–83, §§ 4(a)(1), 5(a), Aug. 6, 1991, 105 Stat. 403, 406.) Editorial Notes AMENDMENTS 1991—Pub. L. 102–83, § 5(a), renumbered section 1841 of this title as this section. Par. (1). Pub. L. 102–83, § 4(a)(1), substituted ‘‘adminis- tered by the Secretary’’ for ‘‘administered by the Vet- erans’ Administration’’. 1986—Pub. L. 99–576 substituted ‘‘percent’’ for ‘‘per centum’’ in par. (1) and ‘‘180’’ for ‘‘one hundred and eighty’’ in par. (2). Statutory Notes and Related Subsidiaries EFFECTIVE DATE Pub. L. 97–72, title III, § 305, Nov. 3, 1981, 95 Stat. 1060, provided that: ‘‘The amendments made by this title [see Tables for classification] shall take effect at the end of the one-hundred-and-eighty-day period begin- ning on the date of the enactment of this Act [Nov. 3, 1981], except that the authority of the Administrator of Veterans’ Affairs to promulgate regulations under sub- chapter IV of chapter 37 of title 38, United States Code (as added by section 302), shall take effect on such date of enactment.’’ SHORT TITLE For short title of title III of Pub. L. 97–72, which en- acted this subchapter, as the ‘‘Veterans’ Small Busi- ness Loan Act of 1981’’, see section 301 of Pub. L. 97–72, set out as a Short Title of 1981 Amendments note under section 101 of this title. AUTHORIZATION OF APPROPRIATIONS Pub. L. 97–72, title III, § 304, Nov. 3, 1981, 95 Stat. 1060, authorized to be appropriated a total of $750,000 for fis- cal years 1982 through 1986 for use by Administrator of Veterans’ Affairs for expenses incidental to establish- ment of small business loan program authorized by sub- chapter IV of this chapter. § 3742. Small business loan program (a)(1) Subject to subsection (b) of this section, the Secretary may provide financial assistance to veterans’ small business concerns for the pur- pose of (A) financing plant construction, conver- sion, or expansion (including the acquisition of land), (B) financing the acquisition of equip- ment, facilities, machinery, supplies, or mate- rials, or (C) supplying such concerns with work- ing capital. (2) Subject to paragraph (3)(A) of this sub- section, financial assistance under this section may be provided in the form of (A) loan guaran- ties, or (B) direct loans. (3) The Secretary shall specify in regulations the criteria to be met for a business concern to