Page:United States Statutes at Large Volume 80 Part 1.djvu/61

 80

STAT.]

PUBLIC LAW 89-358-MAR. 3, 1966

(m) Section 1734 of such title 38 is amended by (1) striking out "33" in subsection (a) and inserting in lieu thereof "34", and (2) striking out "1634" in subsection (b) and inserting in lieu thereof "1684". (n) Section 1735 of such title 38 is amended to read as follows: "An eligible person shall receive the benefits of this chapter while enrolled in a course of education offered by an educational institution only if such course (1) is approved in accordance with the provisions of subchapter I of chapter 36 of this title, or (2) is approved for the enrollment of the particular individual under the provisions of section 1737 of this title." (o) Section 1736 of such title 38 is amended by (1) striking out " (a) ", (2) striking out all of subsection (b) thereof, and (3) inserting after the phrase "this chapter", both times it appears, the following: ", or of chapter 36 of this title,". (p) Section 3013 of this title 38 is amended by striking out "33" and inserting in lieu thereof "34".

25 ^2 Stat. 1199.

Ante, p. 20.

GUARANTEED H O M E AND F A R M LOANS

SEC. 5. (a) Chapter 37 of title 38 of the United States Code is amended by inserting immediately after section 1817 the following new section: "§ 1818. Veterans who serve after January 31, 1955 " (a) Each eligible veteran, as defined in paragraphs (1) and (2) of subsection (a) of section 1662 of this title, shall be eligible for the benefits of this chapter (except sections 1813 and 1815, and business loans under section 1814, of this title), subject to the provisions of this section. " (b) Entitlement under subsection (a), (1) shall cancel any unused entitlement under other provisions of this chapter derived from service during World W a r II or the Korean conflict, and (2) shall be reduced by the amount by which entitlement from service during World W a r II or the Korean conflict has been used to obtain a direct, guaranteed, or insured loan— " (A) on real property which the veteran owns at the time of application; or " (B) as to which the Administrator has incurred actual liability or loss, unless in the event of loss or the incurrence and payment of such liability by the Administrator the resulting indebtedness has been paid in full. "(c)(1) Entitlement to the benefits of this section will expire as follows: " (A) Ten years from the date of discharge or release from the last period of active duty of the veteran, any part of which occurred after January 31, 1955, plus an additional period equal to one year for each three months of active duty performed by the veteran after such date, except that entitlement shall not continue in any case after twenty years from the date of the veteran's discharge or release from his last period of active duty, nor shall entitlement expire in any case prior to the date ten years after the date of enactment of this Act; or " (B) Twenty years from the date of the veteran's discharge or release for a service-connected disability from a period of active duty, any part of which occurred after January 31, 1955. " (C) Direct loans authorized by this section shall not be made after January 31, 1976, except pursuant to commitments issued by the Administrator on or before that date.

38 USC 1801 et seq.

Ante,

p. 13.

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