American Government Simulation -> HR 1.390 Servicemember's Life Ins. Increase Act

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HR 1.390 Servicemember's Life Ins. Increase Act

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FairBol

Posted: Oct 21 2004, 06:11 PM

GOP Chairman Candidate

Group: Members
Posts: 847
Member No.: 166
Joined: 21-August 04

QUOTE

IN THE HOUSE OF REPRESENTATIVES

Rep. Schmidt for himself introduced the following bill which was cosponsered by the Honorable Rep. Santiago, the Honorable Rep. Troutman, the Honorable Rep. Heortman, the Honorable Rep. Wilder, the Honorable Rep. Fernandez, the Honorable Rep. Garwood, and the Honorable Rep. Adams; to be forwarded to the IRAS Committee

A BILL
To amend title 38, United States Code, to increase the maximum coverage under the Servicemembers' Group Life Insurance and Veterans' Group Life Insurance programs from $250,000 to $500,000.

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

SECTION 1. INCREASE IN AUTOMATIC MAXIMUM COVERAGE UNDER SERVICEMEMBERS' GROUP LIFE INSURANCE AND VETERANS' GROUP LIFE INSURANCE.

(a) Maximum Under Servicemembers' Group Life Insurance- (1) Subsection (a)(3)(A)(i) of section 1967 of title 38, United States Code, is amended by striking `$250,000' each place it appears and inserting `$500,000'.

(2) Subsection (d) of such section is amended by striking `maximum amount of $250,000' and inserting `maximum amount provided under subparagraph (A)(i) of subsection (a)(3)'

( Maximum Under Veterans' Group Life Insurance- Section 1977(a) of such title is amended by striking `$250,000' each place it appears and inserting `$500,000'.

SEC. 2. EFFECTIVE DATE.

The amendments made by section 1 shall take effect on the first day of the first month that begins more than 120 days after the date of the enactment of this Act.

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