Veterans' farm and home loan program.

Existing law establishes the Department of Veterans Affairs, which is headed by the Secretary of Veterans Affairs. Existing law requires the secretary, as head of the department and subject to the policies adopted by the California Veterans Board, to perform all duties, exercise all powers and jurisdiction, assume and discharge all responsibilities, and carry out and effect all provisions vested by law in the department. Existing law defines "veteran" for the purposes of the various programs granting benefits to veterans. This bill would authorize the secretary to designate a deputy, employee, or other official in the department to act for them and to represent them at meetings. The bill would authorize the secretary to delegate powers and duties, as specified. The bill would include in the definition of "veteran" a person who qualifies for funds made available from a qualified mortgage revenue bond issued pursuant to federal law, as specified, and who, at the time of application for Cal-Vet benefits, was a member of the California National Guard or a reserve component of any branch of the Armed Forces of the United States who has completed not less than a 6-year commitment and was released under honorable conditions. Existing law provides for farm and home purchase benefits for qualifying veterans under the Veterans' Farm and Home Purchase Act of 1943 and the Veterans' Farm and Home Purchase Act of 1974, which are collectively referred to as the CalVet Home Loan Program, and places responsibility for program administration with the Department of Veterans Affairs. Existing law establishes program requirements, including that homes, condominiums, and mobilehomes, in the opinion of the department, suit the needs of the purchaser and that the department process loan applications with the intent of delivering a loan within an average of 30 days. Existing law permits the department to purchase property subject to a participation contract for a loan term of not less than 23 years and requires the purchase price plus the participation contract to not exceed the maximum purchase prices available under the program. This bill would repeal the Veterans' Farm and Home Act of 1943. The bill would, for purposes of the Veterans' Farm and Home Purchase Act of 1974, provide that in cases of homes, condominiums, and mobilehomes, the determination that the purchase meets required standards is within the sole opinion of the department. This bill would require the department to efficiently process loans with the intent of achieving loan delivery within an industry standard average number of days, rather than requiring 30 days. This bill would repeal the requirement that property purchased subject to a participation contract be limited to a term of not less than 23 years. This bill would allow the department to acquire a home for the purpose of refinancing an existing loan, as specified. This bill would make other technical changes.