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Title 38, Veterans' BenefitsRelease 119-102

§3722 Veterans Housing Benefit Program Fund

Title 38 › PART III — READJUSTMENT AND RELATED BENEFITS › CHAPTER 37 — HOUSING AND SMALL BUSINESS LOANS › SUBCHAPTER III — ADMINISTRATIVE PROVISIONS › § 3722

Last updated Aug 21, 2026|Official source

Summary

Creates a Veterans Housing Benefit Program Fund in the U.S. Treasury. The Secretary may use the Fund, with no fiscal year limit, to run housing loan programs under this chapter (but not for administrative costs) and must follow the Federal Credit Reform Act of 1990. Money put into the Fund includes any appropriations; fees paid under section 3729 or other laws or rules the Secretary sets for program participants; and all other amounts the Secretary gets on or after October 1, 1998, from housing loan work — for example loan repayments, sales or rentals of property, sales of loans under sections 3720(h) and 3733(a)(3), and penalties under section 3710(g)(4)(B). Amounts from fees and those other receipts go into the Fund’s proper financing or liquidating account. The term “housing loan” does not include loans made under subchapter V.

Full Legal Text

Title 38, §3722

Veterans' Benefits, Source: USLM XML via OLRC

(a)There is hereby established in the Treasury of the United States a fund known as the Veterans Housing Benefit Program Fund (hereinafter 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 section 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.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

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, § 13201(a), Nov. 5, 1990, 104 Stat. 1388–609, which is classified generally to subchapter III (§ 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, § 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, § 5(c), Mar. 3, 1966, 88 Stat. 26; Pub. L. 89–623, § 1, Oct. 4, 1966, 80 Stat. 873; Pub. L. 90–301, § 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, §§ 7(a), 10, Dec. 31, 1974, 88 Stat. 1866, 1867, effective Dec. 31, 1974.

Amendments

2001—Subsec. (a). Pub. L. 107–14 substituted “hereinafter” for “hereafter”.

Statutory Notes and Related Subsidiaries

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, § 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).”

Reference

Citations & Metadata

Citation

38 U.S.C. § 3722

Title 38, Veterans' Benefits

Last Updated

Aug 21, 2026

Release point: 119-102