§ 1923. Veterans’ Special Life Insurance

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1958

   Pub. L. 85–857 · 72 Stat. 1105

   Enacted · 38 U.S.C. § 1923

   Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1157, § 723

   Source evidence

   Code source credit
   Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1157, § 723

2. 1958

   Pub. L. 85–896 § 1(2) · 72 Stat. 1716

   Redesignated · 38 U.S.C. § 1923(b)

   Pub. L. 85–896, § 1(2), added subsec. (b). Former subsec. (b) redesignated (c)

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 85–896, § 1(2), added subsec. (b). Former subsec. (b) redesignated (c).

   Enacted provision · exact public law section
   (1) Subsection (b) is redesignated as subsection (c).

3. 1958

   Pub. L. 85–896 § 1(1) · 72 Stat. 1716

   1. Redesignated · 38 U.S.C. § 1923(c)

      Pub. L. 85–896, § 1(1), redesignated former subsec. (b) as (c)

   2. Substituted · 38 U.S.C. § 1923(c)

      Pub. L. 85–896, § 1(1), substituted “equal to the rate of interest, computed as of the end of the month preceding the date of issue of such obligations, borne by all marketable interest-bearing obligations of the United States then forming a part of the public debt that are not due or callable until after the expiration of five years from the date of original issue; except that where such average rate is not a multiple of one-eighth of 1 per centum, the rate of interest of such obligations shall be the multiple of one-eighth of 1 per centum nearest such average rate” for “not exceeding the average interest rate on all marketable obligations of the United States Treasury outstanding as of the end of the month preceding the date of issue of this special obligation”

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 85–896, § 1(1), redesignated former subsec. (b) as (c) and substituted “equal to the rate of interest, computed as of the end of the month preceding the date of issue of such obligations, borne by all marketable interest-bearing obligations of the United States then forming a part of the public debt that are not due or callable until after the expiration of five years from the date of original issue; except that where such average rate is not a multiple of one-eighth of 1 per centum, the rate of interest of such obligations shall be the multiple of one-eighth of 1 per centum nearest such average rate” for “not exceeding the average interest rate on all marketable obligations of the United States Treasury outstanding as of the end of the month preceding the date of issue of this special obligation”.

   Enacted provision · exact public law section
   (1) Subsection (b) is redesignated as subsection (c).

4. 1961

   Pub. L. 87–223 · 75 Stat. 495

   Added · 38 U.S.C. § 1923(d); 38 U.S.C. § 1923(e)

   Pub. L. 87–223 added subsecs. (d) and (e)

   Source evidence

   Code amendment note
   Subsecs. (d), (e). Pub. L. 87–223 added subsecs. (d) and (e).

5. 1974

   Pub. L. 93–289 § 2(a)(1) · 88 Stat. 165

   Substituted · 38 U.S.C. § 1923

   Pub. L. 93–289, § 2(a)(1), substituted “Veterans’ Special Life Insurance” for “Veterans’ special term insurance” in section catchline

   Source evidence

   Code amendment note
   Pub. L. 93–289, § 2(a)(1), substituted “Veterans’ Special Life Insurance” for “Veterans’ special term insurance” in section catchline.

   Enacted provision · exact public law section
   (1) The catchline is amended to read as follows: “Veterans’ Special Life Insurance”.

   Effective date note
   Pub. L. 93–289, § 12(1), May 24, 1974, 88 Stat. 173, provided that: “The amendments made by section 2 [amending this section], relating to Veterans’ Special Life Insurance, shall become effective upon the date of enactment of this Act [May 24, 1974] except that no dividend on such insurance shall be paid prior to January 1, 1974.”

6. 1974

   Pub. L. 93–289 § 2(a)(2) · 88 Stat. 165

   Substituted · 38 U.S.C. § 1923(a)

   Pub. L. 93–289, § 2(a)(2), substituted “all premiums and other collections on such insurance and any total disability provisions added thereto shall be credited to a revolving fund in the Treasury of the United States, which, together with interest earned thereof, shall be available for the payment of liabilities under such insurance and any total disability provisions added thereto, including payments of dividends and refunds of unearned premiums” for “such insurance and any total disability provision added thereto shall be on a nonparticipating basis and all premiums and other collections therefor shall be credited to a revolving fund in the Treasury of the United States and the payments on such term insurance and any total disability provision added thereto shall be made directly from such fund” in cl. (4)

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 93–289, § 2(a)(2), substituted “all premiums and other collections on such insurance and any total disability provisions added thereto shall be credited to a revolving fund in the Treasury of the United States, which, together with interest earned thereof, shall be available for the payment of liabilities under such insurance and any total disability provisions added thereto, including payments of dividends and refunds of unearned premiums” for “such insurance and any total disability provision added thereto shall be on a nonparticipating basis and all premiums and other collections therefor shall be credited to a revolving fund in the Treasury of the United States and the payments on such term insurance and any total disability provision added thereto shall be made directly from such fund” in cl. (4).

   Enacted provision · exact public law section
   (2) Clause (4) of subsection (a) is amended to read as follows: “(4) all premiums and other collections on such insurance and any total disability provisions added thereto shall be credited to a revolving fund in the Treasury of the United States, which, together with interest earned thereon, shall be available for the payment of liabilities under such insurance and any total disability provisions added thereto, including payments of dividends and refunds of unearned premiums”.

   Effective date note
   Pub. L. 93–289, § 12(1), May 24, 1974, 88 Stat. 173, provided that: “The amendments made by section 2 [amending this section], relating to Veterans’ Special Life Insurance, shall become effective upon the date of enactment of this Act [May 24, 1974] except that no dividend on such insurance shall be paid prior to January 1, 1974.”

7. 1974

   Pub. L. 93–289 § 2(a)(3) · 88 Stat. 165

   Substituted · 38 U.S.C. § 1923(b)

   Pub. L. 93–289, § 2(a)(3), substituted “all premiums and other collections on insurance issued under this subsection and any total disability income provisions added thereto shall be credited directly to the revolving fund referred to in subsection (a) of this section, which together with interest earned thereon, shall be available for the payment of liabilities under such insurance and any total disability provisions added thereto, including payments of dividends and refunds of unearned premiums” for “insurance and any total disability provision added thereto issued under this subsection shall be on a nonparticipating basis and all premiums and other collections therefor shall be credited directly to the revolving fund referred to in subsection (a) and payments on such insurance and any total disability provision added thereto shall be made directly from such fund” in cl. (5)

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 93–289, § 2(a)(3), substituted “all premiums and other collections on insurance issued under this subsection and any total disability income provisions added thereto shall be credited directly to the revolving fund referred to in subsection (a) of this section, which together with interest earned thereon, shall be available for the payment of liabilities under such insurance and any total disability provisions added thereto, including payments of dividends and refunds of unearned premiums” for “insurance and any total disability provision added thereto issued under this subsection shall be on a nonparticipating basis and all premiums and other collections therefor shall be credited directly to the revolving fund referred to in subsection (a) and payments on such insurance and any total disability provision added thereto shall be made directly from such fund” in cl. (5).

   Enacted provision · exact public law section
   (3) Clause (5) of subsection (b) is amended to read as follows: “(5) all premiums and other collections on insurance issued under this subsection and any total disability income provisions added thereto shall be credited directly to the revolving fund referred to in subsection (a) of this section, which together with interest earned thereon, shall be available for the payment of liabilities under such insurance and any total disability provisions added thereto, including payments of dividends and refunds of unearned premiums”.

   Effective date note
   Pub. L. 93–289, § 12(1), May 24, 1974, 88 Stat. 173, provided that: “The amendments made by section 2 [amending this section], relating to Veterans’ Special Life Insurance, shall become effective upon the date of enactment of this Act [May 24, 1974] except that no dividend on such insurance shall be paid prior to January 1, 1974.”

8. 1974

   Pub. L. 93–289 § 2(a)(4) · 88 Stat. 165

   Repealed · 38 U.S.C. § 1923(d); 38 U.S.C. § 1923(e)

   Pub. L. 93–289, § 2(a)(4), repealed subsecs. (d) and (e) which related to the payment of dividends from the excess funds in the revolving fund, and to the transfer of funds from the revolving fund to general fund receipts in the Treasury

   Source evidence

   Code amendment note
   Subsecs. (d), (e). Pub. L. 93–289, § 2(a)(4), repealed subsecs. (d) and (e) which related to the payment of dividends from the excess funds in the revolving fund, and to the transfer of funds from the revolving fund to general fund receipts in the Treasury.

   Enacted provision · exact public law section
   (4) Subsections (d) and (e) are hereby repealed. Repeals.

   Effective date note
   Pub. L. 93–289, § 12(1), May 24, 1974, 88 Stat. 173, provided that: “The amendments made by section 2 [amending this section], relating to Veterans’ Special Life Insurance, shall become effective upon the date of enactment of this Act [May 24, 1974] except that no dividend on such insurance shall be paid prior to January 1, 1974.”

9. 1991

   Pub. L. 102–83 § 5(a) · 105 Stat. 378

   Changed · 38 U.S.C. § 1923

   Pub. L. 102–83, § 5(a), renumbered section 723 of this title as this section

   Source evidence

   Code amendment note
   Pub. L. 102–83, § 5(a), renumbered section 723 of this title as this section.

   Enacted provision · exact public law section
   (a) Redesignation of Sections to Conform to Chapter Numbers.— Each section contained in any of chapters 11 through 23 is redesignated by replacing the first digit of the section number with the number of the chapter containing that section. Each section contained in any of chapters 24 through 42 is redesignated so that the first two digits of the section number of that section are the same as the chapter number of the chapter containing that section.

10. 1991

    Pub. L. 102–83 § 4(b)(2)(C) · 105 Stat. 378

    Substituted · 38 U.S.C. § 1923(c)

    Pub. L. 102–83, § 4(b)(2)(C), substituted “two Secretaries” for “Administrator and Secretary”

    Source evidence

    Code amendment note
    Subsec. (c). Pub. L. 102–83, § 4(b)(2)(C), substituted “two Secretaries” for “Administrator and Secretary”.

    Enacted provision · exact public law section
    (C) Section 723(c) is amended by striking out “the Administrator and Secretary” at the end of the first sentence and inserting in lieu thereof “the two Secretaries”.

11. 1991

    Pub. L. 102–83 § 4(b)(1) · 105 Stat. 378

    Substituted · 38 U.S.C. § 1923(c)

    Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator” after “The”

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator” after “The”.

    Enacted provision · exact public law section
    (1) Title 38 is further amended by striking out “Administrator” and “Administrator’s” each place they appear (except as provided in paragraphs (2) and (9) and including where they appear in section headings and tables of sections) and inserting in lieu thereof “Secretary” and “Secretary’s”, respectively.

12. 1996

    Pub. L. 104–99 title II § 201(b) · 110 Stat. 26

    Inserted · 38 U.S.C. § 1923(a)

    Pub. L. 104–99 inserted “, and for the reimbursement of administrative costs under subsection (d)” before period at end

    Source evidence

    Code amendment note
    Subsec. (a). Pub. L. 104–99 inserted “, and for the reimbursement of administrative costs under subsection (d)” before period at end.

    Enacted provision · exact public law section
    (b) Such amounts as may be necessary under the authority and conditions provided in the applicable appropriations Act for the fiscal year 1995 for continuing projects or activities, except for those projects and activities provided for in Public Law 104–91 and Public Law 104–92, including the costs of direct loans and loan guarantees (not otherwise specifically provided for in this Act) at a rate for operations provided for in the conference report and joint explanatory statement of the Committee of Conference, House Report 104–384, on the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (H.R. 2099), as passed the House of Representatives on December 7, 1995: Provided, That Senate amendment 63 shall be disposed of in the manner passed by the House on December 7, 1995, as if enacted into law: Provided further, That, notwithstanding any other provision of this title of this Act, the rate for operations for the Corporation for National and Community Service, the Community Development Financial Institutions Fund, and the Office of Consumer Affairs may be increased up to a level of 75 per centum of the fiscal year 1995 level: Provided further, That, under the previous proviso, no new contracts or grants shall be awarded in excess of an amount that bears the same ratio to the rate for operations provided by the previous proviso as the number of days covered by this Act bears to 366: 38 USC 1920, 1923, 1955, 1982. Provided further, That the penultimate proviso under the heading “General Operating Expenses” and sections 107 and 109 under the heading “Administrative Provisions” in the Department of Veterans Affairs are effective to the extent and in the manner, notwithstanding any other provision of this Act, provided for in the conference report and joint explanatory statement of the Committee of Conference (House Report 104–384) on the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (H.R. 2099), as passed by the House of Representatives on December 7, 1995.

13. 1996

    Pub. L. 104–99 title II § 201(b) · 110 Stat. 26

    Added · 38 U.S.C. § 1923(d)

    Pub. L. 104–99 added subsec. (d)

    Source evidence

    Code amendment note
    Subsec. (d). Pub. L. 104–99 added subsec. (d).

    Enacted provision · exact public law section
    (b) Such amounts as may be necessary under the authority and conditions provided in the applicable appropriations Act for the fiscal year 1995 for continuing projects or activities, except for those projects and activities provided for in Public Law 104–91 and Public Law 104–92, including the costs of direct loans and loan guarantees (not otherwise specifically provided for in this Act) at a rate for operations provided for in the conference report and joint explanatory statement of the Committee of Conference, House Report 104–384, on the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (H.R. 2099), as passed the House of Representatives on December 7, 1995: Provided, That Senate amendment 63 shall be disposed of in the manner passed by the House on December 7, 1995, as if enacted into law: Provided further, That, notwithstanding any other provision of this title of this Act, the rate for operations for the Corporation for National and Community Service, the Community Development Financial Institutions Fund, and the Office of Consumer Affairs may be increased up to a level of 75 per centum of the fiscal year 1995 level: Provided further, That, under the previous proviso, no new contracts or grants shall be awarded in excess of an amount that bears the same ratio to the rate for operations provided by the previous proviso as the number of days covered by this Act bears to 366: 38 USC 1920, 1923, 1955, 1982. Provided further, That the penultimate proviso under the heading “General Operating Expenses” and sections 107 and 109 under the heading “Administrative Provisions” in the Department of Veterans Affairs are effective to the extent and in the manner, notwithstanding any other provision of this Act, provided for in the conference report and joint explanatory statement of the Committee of Conference (House Report 104–384) on the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (H.R. 2099), as passed by the House of Representatives on December 7, 1995.

12 of 14 references resolved to an enrolled provision · 2 partial