Veterans Fiduciary Act of 2004

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D DavisSponsor

28 cosponsors · 28 D

14 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Veterans Fiduciary Act of 2004 - Defines "fiduciary," for purposes of Federal veterans' benefits provisions, as a guardian or any other person having been appointed or legally vested with the responsibility or care of a veterans' benefit claimant or beneficiary, or of money paid for the use and benefit of a minor, incompetent, or other beneficiary.

What it does: CRS summary · Introduced in House · Mar 25, 2004

Requires any certification of a person as a fiduciary for such purposes to be made on the basis of: (1) an investigation of their fitness to so serve; (2) adequate evidence that such certification is in the best interest of such beneficiary; and (3) the furnishing of any required bond. Requires the investigation to include whether the person has been convicted of any offense which resulted in imprisonment for more than one year.

Prohibits a fiduciary from collecting a fee from a beneficiary for any month with respect to which the Secretary of Veterans Affairs or a court finds that the fiduciary misused all or part of the individual's benefit. Provides liability for fiduciaries for misused benefits. Requires the Secretary to pay a beneficiary any amounts or benefits misused by a fiduciary when the negligent failure of the Secretary to investigate or monitor a fiduciary results in such misuse.

Provides additional protections for beneficiaries with fiduciaries, including: (1) periodic onsite reviews of institutional fiduciaries such as certified community-based nonprofit social service agencies; (2) requiring a fiduciary to file a report or accounting; (3) civil monetary penalties; and (4) authority for judicial orders of restitution.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Veterans Fiduciary Act of 2004

Latest action (Nov 17, 2004): Sponsor introductory remarks on measure. (CR H9770)

Policy area: Armed Forces and National Security · Origin: House · Introduced: Mar 25, 2004

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.