Veterans Economic Opportunity and Transition Administration Act

5/24/2024, 1:34 PM

Veterans Economic Opportunity and Transition Administration Act

This bill establishes the Veterans Economic Opportunity and Transition Administration to administer economic opportunity assistance programs for veterans and their dependents and survivors.

Specifically, the Veterans Economic Opportunity and Transition Administration must administer the following Department of Veterans Affairs (VA) programs:

  • vocational rehabilitation and employment programs,
  • educational assistance programs,
  • veterans' housing loan and related programs, and
  • the Transition Assistance Program.

Prior to the transfer of administrative responsibilities, the bill requires the VA to certify that (1) the transition of the provision of services will not negatively affect the provision of such services to veterans, and (2) such services are ready to be transferred.

The bill also establishes a cap on the number of full-time equivalent employees authorized for the Veterans Benefits Administration and the Veterans Economic Opportunity and Transition Administration for FY2024 and FY2025.

Finally, the bill extends certain loan fee rates through November 30, 2031, under the VA's home loan program.

Bill 118 hr 3738, also known as the Veterans Economic Opportunity and Transition Administration Act, aims to improve economic opportunities and support for veterans as they transition back to civilian life. The bill focuses on providing resources and assistance to help veterans find employment, start businesses, and access educational opportunities.

Key provisions of the bill include the establishment of a new administration within the Department of Veterans Affairs dedicated to overseeing and coordinating programs related to veterans' economic opportunities and transition. This administration will work to streamline services and ensure that veterans have access to the support they need to succeed in the workforce.

Additionally, the bill includes measures to expand access to job training and education programs for veterans, as well as initiatives to support veteran-owned small businesses. It also aims to improve coordination between the Department of Veterans Affairs and other federal agencies to better serve the needs of veterans. Overall, the Veterans Economic Opportunity and Transition Administration Act seeks to address the unique challenges that veterans face as they transition from military service to civilian life. By providing targeted support and resources, the bill aims to help veterans successfully reintegrate into society and achieve economic stability.
Congress
118
Number
HR - 3738
Introduced on
2023-05-25
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

5/1/2024
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
Passed in House
Introduced to Senate
Senate to Vote

Purpose and Summary

Veterans Economic Opportunity and Transition Administration Act

This bill establishes the Veterans Economic Opportunity and Transition Administration to administer economic opportunity assistance programs for veterans and their dependents and survivors.

Specifically, the Veterans Economic Opportunity and Transition Administration must administer the following Department of Veterans Affairs (VA) programs:

  • vocational rehabilitation and employment programs,
  • educational assistance programs,
  • veterans' housing loan and related programs, and
  • the Transition Assistance Program.

Prior to the transfer of administrative responsibilities, the bill requires the VA to certify that (1) the transition of the provision of services will not negatively affect the provision of such services to veterans, and (2) such services are ready to be transferred.

The bill also establishes a cap on the number of full-time equivalent employees authorized for the Veterans Benefits Administration and the Veterans Economic Opportunity and Transition Administration for FY2024 and FY2025.

Finally, the bill extends certain loan fee rates through November 30, 2031, under the VA's home loan program.

Bill 118 hr 3738, also known as the Veterans Economic Opportunity and Transition Administration Act, aims to improve economic opportunities and support for veterans as they transition back to civilian life. The bill focuses on providing resources and assistance to help veterans find employment, start businesses, and access educational opportunities.

Key provisions of the bill include the establishment of a new administration within the Department of Veterans Affairs dedicated to overseeing and coordinating programs related to veterans' economic opportunities and transition. This administration will work to streamline services and ensure that veterans have access to the support they need to succeed in the workforce.

Additionally, the bill includes measures to expand access to job training and education programs for veterans, as well as initiatives to support veteran-owned small businesses. It also aims to improve coordination between the Department of Veterans Affairs and other federal agencies to better serve the needs of veterans. Overall, the Veterans Economic Opportunity and Transition Administration Act seeks to address the unique challenges that veterans face as they transition from military service to civilian life. By providing targeted support and resources, the bill aims to help veterans successfully reintegrate into society and achieve economic stability.
Alternative Names
Official Title as IntroducedTo amend title 38, United States Code, to establish in the Department of Veterans Affairs the Veterans Economic Opportunity and Transition Administration, and for other purposes.
Policy Areas
Armed Forces and National Security
Potential Impact
Congressional oversight•
Department of Veterans Affairs•
Employment and training programs•
Executive agency funding and structure•
Federal officials•
Government employee pay, benefits, personnel management•
Government information and archives•
Labor-management relations•
Small business•
Veterans' education, employment, rehabilitation•
Veterans' loans, housing, homeless programs

Comments

Recent Activity

Latest Summary4/15/2024

Veterans Economic Opportunity and Transition Administration Act

This bill establishes the Veterans Economic Opportunity and Transition Administration to administer economic opportunity assistance programs for veterans and th...

Latest Action5/1/2024
Received in the Senate and Read twice and referred to the Committee on Veterans' Affairs.