Veteran Scam Victims Foundation Act

The Veteran Scam Victims Foundation Act establishes a new, independent nonprofit entity called the Veteran Scam Victims Foundation . This Foundation is designed to safeguard veterans and their beneficiaries from fraudulent schemes by encouraging and administering private gifts to support scam prevention and victim assistance efforts. Its core activities include educating veterans about common scams and providing support to those who have fallen victim. Crucially, the Foundation's purpose explicitly excludes providing monetary compensation to veterans or their beneficiaries for financial losses incurred due to scams. It will operate under the District of Columbia Nonprofit Corporation Act and is not considered an agency of the United States government. The Foundation will be overseen by a Board of Directors, chaired by the Secretary of Veterans Affairs, and will include six private citizens appointed by various federal agency heads, along with up to three additional private citizens appointed by the VA Secretary. The Foundation is authorized to accept and manage gifts, devises, and bequests, ensuring these activities are coordinated with the Department of Veterans Affairs. It possesses corporate powers such as entering contracts and adopting bylaws, and its income and property will be exempt from federal, state, and local taxation. The United States government, however, will not be liable for any of the Foundation's debts or actions, and the Foundation is required to submit an annual report to relevant congressional committees.