Compensation Fund Recrediting Act

This legislative proposal, known as the Compensation Fund Recrediting Act, seeks to conclude the operations of the Filipino Veterans Equity Compensation Fund. It achieves this by amending the American Recovery and Reinvestment Act of 2009, which originally established the fund. The bill specifically modifies Section 1002 of the 2009 Act, replacing the phrase "until expended" for fund availability with a definitive sunset provision. This change ensures a clear end date for the fund's activities. Under the new provisions, the entire section governing the fund will cease to have any effect on January 1, 2027 . Furthermore, any remaining amounts held within the Filipino Veterans Equity Compensation Fund on this sunset date will be deposited into the general fund of the Treasury, effectively closing the fund and reallocating its unspent resources.