HR 3981119th CongressIn Committee

To amend title 36, United States Code, to grant a Federal charter to the Veterans Association of Real Estate Professionals.

Introduced: Jun 12, 2025

Veterans Affairs

Standard Summary

Comprehensive overview in 1-2 paragraphs

This bill would grant a Federal charter to the Veterans Association of Real Estate Professionals (VARP). It would create a new chapter (Chapter 2302) in Part B of Subtitle II, Title 36 of the U.S. Code, establishing VARP as a federally chartered, nonprofit corporation organized in California and meeting the requirements of a veterans service organization under the Internal Revenue Code (501(c)(19)). The charter would set the organization’s purposes, governance, and operating rules, including restrictions on political activity and financial arrangements, and would require annual reporting to Congress. The charter can expire if VARP fails to comply with the provisions, including maintaining its tax-exempt status.

Key Points

1Establishment of a new federal charter for VARP: The bill creates Chapter 2302 in Title 36, U.S.C., granting VARP a federally chartered status and recognizing it as a national veterans service organization.
2Organization and eligibility: VARP must be a nonprofit, California-incorporated organization that meets the requirements for a veterans service organization under 501(c)(19) of the Internal Revenue Code.
3Purposes and programs: The charter lists broad goals such as promoting sustainable homeownership, financial literacy education, awareness of VA-guaranteed housing loans, and economic opportunities for veterans and Armed Forces members. It also authorizes programs on financial literacy, workforce development, small business incubation/mentorship, housing education (including homelessness prevention and foreclosure prevention), and suicide awareness/prevention, plus a forum for real estate and financial professionals to better serve veterans and their families.
4Governance, powers, and restrictions: The charter confines VARP’s powers to those in its bylaws/articles of incorporation. It prohibits stock issuance and distribution of income to individuals, bans political activity by the organization or its leaders, prohibits loans to internal individuals, and requires VARP to maintain California corporate status.
5Tax-exemption condition and compliance: Maintenance of 501(c)(19) tax-exempt status is a condition of the charter; losing that status terminates the charter. The bill also requires records, transparency, and compliance with record-keeping and inspection norms.
6Reporting and oversight: VARP must keep detailed records and submit an annual report to Congress on its activities, aligned with the annual audit cycle referenced in the title. The annual report cannot be printed as a public document.
7Administrative details: Adds VARP to the official table of chapters in subtitle II of Title 36, establishing its formal place in the federal charter framework.

Impact Areas

Primary group/area affected- Veterans and their families, particularly those seeking housing assistance, financial education, and housing-related programs.- VARP itself, as the federally chartered organization, and its members.Secondary group/area affected- Real estate and financial services professionals who participate in or benefit from VARP programs (e.g., mentorship, housing education, workforce development).Additional impacts- Federal recognition of a veterans-serving professional association, with Congress oversight via annual reporting.- Creation of governance and compliance standards tied to maintaining 501(c)(19) status and California incorporation.- Potential alignment or collaboration with VA housing loan awareness and homelessness/prevention initiatives, though no new funding is specified in the bill.- Public access to governance documents (via website) and accountability through inspections and annual Congress reporting.The sponsor and current legislative status beyond “Introduced” aren’t specified here.The charter does not authorize government funding or require federal programs; it grants symbolic and regulatory recognition and sets governance/operational expectations.

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