
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document affected by Public Law 107-14 Section 8(a)(16)]
[CITE: 38USC3722]

 
                      TITLE 38--VETERANS' BENEFITS
 
               PART III--READJUSTMENT AND RELATED BENEFITS
 
              CHAPTER 37--HOUSING AND SMALL BUSINESS LOANS
 
                SUBCHAPTER III--ADMINISTRATIVE PROVISIONS
 
Sec. 3722. Veterans Housing Benefit Program Fund

    (a) There is hereby established in the Treasury of the United States 
a fund known as the Veterans Housing Benefit Program Fund (hereafter in 
this section referred to as the ``Fund'').
    (b) The Fund shall be available to the Secretary, without fiscal 
year limitation, for all housing loan operations under this chapter, 
other than administrative expenses, consistent with the Federal Credit 
Reform Act of 1990.
    (c) There shall be deposited into the Fund the following, which 
shall constitute the assets of the Fund:
        (1) Any amount appropriated to the Fund.
        (2) Amounts paid into the Fund under section 3729 of this title 
    or any other provision of law or regulation established by the 
    Secretary imposing fees on persons or other entities participating 
    in the housing loan programs under this chapter.
        (3) All other amounts received by the Secretary on or after 
    October 1, 1998, incident to housing loan operations under this 
    chapter, including--
            (A) collections of principal and interest on housing loans 
        made by the Secretary under this chapter;
            (B) proceeds from the sale, rental, use, or other 
        disposition of property acquired under this chapter;
            (C) proceeds from the sale of loans pursuant to sections 
        3720(h) and 3733(a)(3) of this title; and
            (D) penalties collected pursuant to section 3710(g)(4)(B) of 
        this title.

    (d) Amounts deposited into the Fund under paragraphs (2) and (3) of 
subsection (c) shall be deposited in the appropriate financing or 
liquidating account of the Fund.
    (e) For purposes of this section, the term ``housing loan'' shall 
not include a loan made pursuant to subchapter V of this chapter.

(Added Pub. L. 105-368, title VI, Sec. 602(a)(2), Nov. 11, 1998, 112 
Stat. 3345.)

                       References in Text

    The Federal Credit Reform Act of 1990, referred to in subsec. (b), 
is title V of Pub. L. 93-344, as added by Pub. L. 101-508, title XIII, 
Sec. 13201(a), Nov. 5, 1990, 104 Stat. 1388-609, which is classified 
generally to subchapter III (Sec. 661 et seq.) of chapter 17A of Title 
2, The Congress. For complete classification of this Act to the Code, 
see Short Title note set out under section 621 of Title 2 and Tables.


                            Prior Provisions

    Prior to renumbering of sections 1801 to 1851 of this chapter as 
sections 3701 to 3751 by Pub. L. 102-83, Sec. 5(a), Aug. 6, 1991, 105 
Stat. 406, section 1822 of this chapter, Pub. L. 85-857, Sept. 2, 1958, 
72 Stat. 1214; Pub. L. 89-358, Sec. 5(c), Mar. 3, 1966, 88 Stat. 26; 
Pub. L. 89-623, Sec. 1, Oct. 4, 1966, 80 Stat. 873; Pub. L. 90-301, 
Sec. 2(b), May 7, 1968, 82 Stat. 113, which provided for bringing of an 
action in district court, by veteran or Attorney General, against one 
who knowingly participated in sale of property to a veteran for 
consideration in excess of reasonable value of property, was repealed by 
Pub. L. 93-569, Secs. 7(a), 10, Dec. 31, 1974, 88 Stat. 1866, 1867, 
effective Dec. 31, 1974.


                             Effective Date

    Section effective Oct. 1, 1998, see section 602(f) of Pub. L. 105-
368, set out as an Effective Date of 1998 Amendment note under section 
2106 of this title.


     Transfers of Amounts Into Veterans Housing Benefit Program Fund

    Pub. L. 105-368, title VI, Sec. 602(b), Nov. 11, 1998, 112 Stat. 
3346, provided that: ``All amounts in the following funds are hereby 
transferred to the Veterans Housing Benefit Program Fund:
        ``(1) The Direct Loan Revolving Fund, as such fund was continued 
    under section 3723 of title 38, United States Code (as such section 
    was in effect on the day before the effective date of this title 
    [Nov. 11, 1998]).
        ``(2) The Department of Veterans Affairs Loan Guaranty Revolving 
    Fund, as established by section 3724 of such title (as such section 
    was in effect on the day before the effective date of this title).
        ``(3) The Guaranty and Indemnity Fund, as established by section 
    3725 of such title (as such section was in effect on the day before 
    the effective date of this title).''

                  Section Referred to in Other Sections

    This section is referred to in sections 2106, 3727, 3733 of this 
title.
