BILL NUMBER: AB 1225	INTRODUCED
	BILL TEXT


INTRODUCED BY   Committee on Veterans Affairs (Cook (Chair), Pan
(Vice Chair), Block, Gorell, Nielsen, and Yamada)

                        FEBRUARY 18, 2011

   An act to amend Section 987.85 of the Military and Veterans Code,
relating to veterans.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1225, as introduced, Committee on Veterans Affairs. Veterans:
veterans' farm and home purchase.
   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, including mobilehomes. That
act prohibits the department from acquiring a home in which a veteran
has an interest of record except in specified instances.
   This bill would make a technical, nonsubstantive change to that
latter provision.
   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.  Section 987.85 of the Military and Veterans Code is
amended to read:
   987.85.  The department shall not acquire a home in which the
veteran has an interest of record except in the following instances:
   (a) Where the application is for aid for the construction of a
home upon real property owned by the applicant and the improvements
to be constructed thereon have not  reached completion
  been completed  as evidenced by the issuance of a
certificate of occupancy.
   (b) Where the veteran had no interest of record in the property at
the time of filing his or her application and thereafter secured
interim financing pending the processing and approval of the
application by the department.
   (c) Where the application is for the purchase of a mobilehome to
be situated upon real property, or an undivided interest therein,
owned by the applicant.
   (d) Where the applicant is an Indian veteran and the application
is for the construction of a dwelling house or other improvements on,
or for the purchase of a mobilehome to be sited on, trust land in
which the Indian veteran has a beneficial interest or owns an
interest of record.
   (e) Where the application is for assistance to enable the veteran
to purchase his or her space, or share in a mobilehome park, which is
converted from a rental park to a nonprofit corporate resident-owned
park or subdivision, cooperative, or condominium for mobilehomes, in
which the veteran resides in his or her mobilehome. A veteran
applying for assistance under this subdivision shall not be required
to have his or her mobilehome reinstalled on a permanent foundation
system as a condition of receiving the proceeds of the loan to
purchase his or her space or share of the park. This subdivision
shall be implemented by the department only to the extent that
expenditures for the kind of financial assistance to veterans
enumerated herein conform to the requirements of federal tax law with
regard to the tax-exempt status of funding instruments utilized to
provide the assistance.