VA Appraisal Modernization Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4218 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4218 To amend title 38, United States Code, to address appraisal fees for housing loans guaranteed by the Department of Veterans Affairs, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 26, 2026 Ms. Duckworth (for herself, Mr. Sheehy, and Mr. Banks) introduced the following bill; which was read twice and referred to the Committee on Veterans' Affairs _______________________________________________________________________ A BILL To amend title 38, United States Code, to address appraisal fees for housing loans guaranteed by the Department of Veterans Affairs, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``VA Appraisal Modernization Act''. SEC. 2. APPRAISAL FEES FOR DEPARTMENT OF VETERANS AFFAIRS HOME LOANS. (a) In General.--Chapter 37 of title 38, United States Code, is amended by inserting after section 3731 the following new section: ``Sec. 3731A. Appraisal fees ``(a) Definitions.--In this section: ``(1) Appraisal fee.--The term `appraisal fee' means the compensation paid to an appraiser for conducting an appraisal of property in connection with a loan guaranteed, insured, or made under this chapter. ``(2) High-demand county.--The term `high-demand county' means a county designated as a high-demand county under subsection (c). ``(3) Remote county.--The term `remote county' means a county designated as a remote county under subsection (c). ``(b) Annual Inflation Adjustment.-- ``(1) Baseline.--Not later than 180 days after the date of the enactment of the VA Appraisal Modernization Act, the Secretary shall establish appraisal fees for purposes of this chapter. ``(2) Adjustment.--On Januar