Heroes Earnings Assistance and Relief Tax Act opens up affordable housing program to all Texas veterans

WASHINGTON—U.S. Sen. John Cornyn, a member of the Senate Armed Services Committee, made the following statement regarding the Heroes Earnings Assistance and Relief Tax Act, H.R. 6081, which was signed into law today by President Bush. The legislation makes housing more affordable for Texas veterans by expanding the Qualified Veterans Mortgage Bond (QVMB) program. Sen. Cornyn supported the legislation when it passed the Senate unanimously in May. 

“Enactment of this legislation is a victory for all Texas veterans. We owe it to those who served to make sure they have expanded access to affordable housing. The Qualified Veterans Mortgage Bond program is an important tool for veterans seeking financing to purchase a home. This new law, which expands the Qualified Veterans Mortgage Bond program to all Texas veterans, is one way to help them transition back to civilian life and care for their families.

“I’ll keep working to make sure we carry out our responsibility to meet the needs of our veterans and that they receive the benefits they deserve. This new law is a step in the right direction to accomplishing that.”

Background

Previously, the QVMB program, administered by the Texas Veterans Land Board, was only open to veterans who served on active duty prior to 1977. Sen. Cornyn co-sponsored bipartisan legislation, S. 2277, which would greatly expand the QVMB eligibility criteria for Texas veterans who served in more recent conflicts by eliminating the pre-1977 requirement.

Sen. Cornyn worked to ensure the provisions of S. 2277 were included in the bill that passed the Senate. In addition, he previously sent a letter to the Chairman and Ranking Member of the Senate Finance Committee urging inclusion of these critical benefits in relevant military tax legislation. The Heroes Earnings Assistance and Relief Tax Act includes these provisions.

Sen. Cornyn serves on the Armed Services, Judiciary and Budget Committees. In addition, he is Vice Chairman of the Senate Republican Conference and the Senate Select Committee on Ethics. He serves as the top Republican on the Judiciary Committee’s Immigration, Border Security and Refugees subcommittee and the Armed Services Committee’s Airland subcommittee. He served previously as Texas Attorney General, Texas Supreme Court Justice, and Bexar County District Judge.