S. 978Senate108th Congress (2003-2005)In Committee

Veterans Housing Fairness Act of 2003

Introduced May 1, 2003

Legislative Activity

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2 earlier actions
SenateCommittee Latest Action

Committee on Veterans' Affairs. Hearings held.

July 10, 2003

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SenateIntro Referral

Introduced in Senate

May 1, 2003

SenateIntro Referral

Read twice and referred to the Committee on Veterans' Affairs.

May 1, 2003

SenateCommittee

Committee on Veterans' Affairs. Hearings held.

July 10, 2003

Floor Debate

12 members

What members said about S. 978 on the floor

2 Republicans10 Democrats
Eni F. H. Faleomavaega
Rep. Eni F. H. FaleomavaegaD-AS · Sep 21, 2004

Mr. Speaker, I want to thank the gentleman from Michigan and my good friend from New Jersey for the management of this proposed legislation. Mr. Speaker, I rise in support of Senate Joint Resolution…

John B. Larson
Rep. John B. LarsonD-CT-1 · Sep 21, 2004

Mr. Speaker, I yield myself such time as I may consume. (Mr. Larson of Connecticut asked and was given permission to revise and extend his remarks, and include extraneous material.) Mr. Speaker, I…

Richard G. Lugar
Sen. Richard G. LugarR-IN · Jul 10, 2003

Mr. President, I ask unanimous consent that the Committee on Armed Services be authorized to meet during the session of the Senate on Thursday, July 10, 2003, at 10:00 a.m., in open session to…

Frank Pallone, Jr.
Rep. Frank Pallone, Jr.D-NJ-6 · Sep 21, 2004

Mr. Speaker, I yield 7 minutes to the gentleman from American Samoa (Mr. Faleomavaega). (Mr. FALEOMAVAEGA asked and was given permission to revise and extend his remarks.) Mr. Speaker, may I inquire…

Vernon J. Ehlers
Rep. Vernon J. EhlersR-MI-3 · Sep 21, 2004

Mr. Speaker, I move to suspend the rules and pass the Senate joint resolution (S.J. Res. 41) commemorating the opening of the National Museum of the American Indian. Mr. Speaker, I yield myself such…

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Rahm Emanuel
Rep. Rahm EmanuelD-IL-5 · Sep 21, 2004

Mr. Speaker, I proudly rise to recognize the American Indian Center of Chicago, the longest-running urban Indian organization in the country and the leader of the National Urban Indian Family…

Jim McDermott
Rep. Jim McDermottD-WA-7 · Sep 21, 2004

Mr. Speaker, I appreciate the opportunity to talk on this resolution because I think it is a long time in coming. Our treatment of the first people in this country has been abysmal. We are largely…

Brad Carson
Rep. Brad CarsonD-OK-2 · Sep 21, 2004

Mr. Speaker, this week, thousands of indigenous people from across the Western Hemisphere have come to Washington, DC. It is arguably the largest gathering of native people in U.S. history. By…

Raúl M. Grijalva
Rep. Raúl M. GrijalvaD-AZ-7 · Sep 21, 2004

Mr. Speaker, I rise today on behalf of all the tribal people of my district and of Arizona to commemorate the opening of the American Indian Museum today in Washington, DC. This is an historic moment…

Nick J. Rahall II
Rep. Nick J. Rahall IID-WV-3 · Sep 21, 2004

Mr. Speaker, I rise today to congratulate our first Americans on this, the long awaited opening day of the National Museum of the American Indian. If, indeed, the last shall be first, this is a fine…

Silvestre Reyes
Rep. Silvestre ReyesD-TX-16 · Sep 21, 2004

Mr. Speaker, I rise today in strong support of S.J. Res. 41, commemorating the opening of the Smithsonian's National Museum of the American Indian. For the first time in our Nation's history, the…

Jim Matheson
Rep. Jim MathesonD-UT-2 · Sep 21, 2004

Mr. Speaker, I rise in celebration of today's opening of the National Museum of the American Indian--a historic event that is long overdue. My congressional district contains lands of the Navajo…

Bill Text

Latest available legislative text

Reading Mode
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Introduced in SenateIssued May 1, 2003
        [Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 978 Introduced in Senate (IS)]

108th CONGRESS
1st Session
S. 978

To amend title 38, United States Code, to provide housing loan benefits
for the purchase of residential cooperative apartment units.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

May 1, 2003

Mr. Schumer introduced the following bill; which was read twice and
referred to the Committee on Veterans' Affairs

_______________________________________________________________________

A BILL

To amend title 38, United States Code, to provide housing loan benefits
for the purchase of residential cooperative apartment units.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Veterans Housing Fairness Act of
2003''.

SEC. 2. RESIDENTIAL COOPERATIVE HOUSING UNITS.

(a) Housing Benefits for Cooperative Apartment Units.--Subsection
(a) of section 3710 of title 38, United States Code, is amended by
adding at the end the following new paragraph:
``(12) To purchase stock or membership in a development,
project, or structure of a cooperative housing corporation in
accordance with subsection (h).''.
(b) Conditions of Housing Benefits for Cooperative Apartment
Units.--That section is further amended by adding at the end the
following new subsection:
``(h)(1) A loan may not be guaranteed under subsection (a)(12)
unless the following conditions are met:
``(A) The development, project, or structure of the
cooperative housing corporation complies with such criteria as
the Secretary prescribes in regulations.
``(B) The dwelling unit that the purchase of stock or
membership in the development, project, or structure of the
cooperative housing corporation entitles the purchaser to
occupy is a one-family residential unit.
``(2) For the purposes of this subsection, the term `cooperative
housing corporation' has the same meaning given such term by section
216(b)(1) of the Internal Revenue Code of 1986.
``(3) For the purposes of applying the term `value of the property'
to a loan guaranteed under subsection (a)(12), such term means the
appraised value of the stock or membership entitling the purchaser to
the permanent occupancy of the dwelling unit in the development,
project, or structure of the cooperative housing corporation.''.
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