BILL NUMBER: AB 697	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member V. Manuel Pérez
   (Coauthors: Assembly Members Block, Cook, Nielsen, and Williams)

                        FEBRUARY 17, 2011

   An act relating to veterans.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 697, as introduced, V. Manuel Pérez. Veterans' benefits:
Veterans' Farm and Home Purchase Act of 1943.
   The Veterans' Farm and Home Purchase Act of 1943, administered by
the Department of Veterans Affairs, provides veterans with the
opportunity to acquire farms and homes.
   This bill would state the intent of the Legislature to enact
legislation to grant the Department of Veterans Affairs, under the
Veterans' Farm and Home Purchase Act of 1974, known as the "CalVet"
Home Loan program, the ability to issue refinance loans for contracts
held by another bank.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  It is the intent of the Legislature to enact
legislation to amend Section 987.85 of the Military and Veterans Code
to grant the Department of Veterans Affairs under the Veterans' Farm
and Home Purchase Act of 1974, known as the "CalVet" Home Loan
program, the ability to issue refinance loans for contracts held by
another bank.