SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Filipino Veterans Equity Act of 
2008''.

SEC. 2. FINDINGS.

    Congress makes the following findings:
            (1) The Philippine islands became a United States 
        possession in 1898 when they were ceded from Spain following 
        the Spanish-American War.
            (2) During World War II, Filipinos served in a variety of 
        units, some of which came under the direct control of the 
        United States Armed Forces.
            (3) The regular Philippine Scouts, the new Philippine 
        Scouts, the Guerilla Services, and more than 100,000 members of 
        the Philippine Commonwealth Army were called into the service 
        of the United States Armed Forces of the Far East on July 26, 
        1941, by an executive order of President Franklin D. Roosevelt.
            (4) Even after hostilities had ceased, wartime service of 
        the new Philippine Scouts continued as a matter of law until 
        the end of 1946, and the force gradually disbanded and was 
        disestablished in 1950.
            (5) Filipino veterans who were granted benefits prior to 
        the enactment of the so-called Rescissions Acts of 1946 (Public 
        Laws 79-301 and 79-391) currently receive full benefits under 
        laws administered by the Secretary of Veterans Affairs, but 
        under section 107 of title 38, United States Code, the service 
        of certain other Filipino veterans is deemed not to be active 
        service for purposes of such laws.
            (6) These other Filipino veterans only receive certain 
        benefits under title 38, United States Code, and, depending on 
        where they legally reside, are paid such benefit amounts at 
        reduced rates.
            (7) The benefits such veterans receive include service-
        connected compensation benefits paid under chapter 11 of title 
        38, United States Code, dependency indemnity compensation 
        survivor benefits paid under chapter 13 of title 38, United 
        States Code, and burial benefits under chapters 23 and 24 of 
        title 38, United States Code, and such benefits are paid to 
        beneficiaries at the rate of $0.50 per dollar authorized, 
        unless they lawfully reside in the United States.
            (8) Dependents' educational assistance under chapter 35 of 
        title 38, United States Code, is also payable for the 
        dependents of such veterans at the rate of $0.50 per dollar 
        authorized, regardless of the veterans' residency.

SEC. 3. PAYMENTS TO ELIGIBLE PERSONS WHO SERVED IN THE PHILIPPINES 
              DURING WORLD WAR II.

    (a) Compensation Fund.--
            (1) In general.--There is in the general fund of the 
        Treasury a fund to be known as the ``Filipino Veterans Equity 
        Compensation Fund'' (in this section referred to as the 
        ``compensation fund'').
            (2) Availability of funds.--Subject to the availability of 
        appropriations for such purpose, amounts in the fund shall be 
        available to the Secretary of Veterans Affairs without fiscal 
        year limitation to make payments to eligible persons in 
        accordance with this section.
    (b) Payments.--During the one-year period beginning on the date of 
the enactment of this Act, the Secretary shall make a payment to an 
eligible person who, during such period, submits to the Secretary an 
application containing such information and assurances as the Secretary 
may require.
    (c) Eligible Persons.--An eligible person is any person who 
served--
            (1) before July 1, 1946, in the organized military forces 
        of the Government of the Commonwealth of the Philippines, while 
        such forces were in the service of the Armed Forces of the 
        United States pursuant to the military order of the President 
        dated July 26, 1941, including among such military forces 
        organized guerrilla forces under commanders appointed, 
        designated, or subsequently recognized by the Commander in 
        Chief, Southwest Pacific Area, or other competent authority in 
        the Army of the United States; or
            (2) in the Philippine Scouts under section 14 of the Armed 
        Forces Voluntary Recruitment Act of 1945 (59 Stat. 538).
    (d) Payment Amounts.--Each payment under this section shall be--
            (1) in the case of an eligible person who is not a citizen 
        of the United States, in the amount of $9,000; and
            (2) in the case of an eligible person who is a citizen of 
        the United States, in the amount of $15,000.
    (e) Limitation.--The Secretary may not make more than one payment 
under this section for each person described in subsection (f).
    (f) Eligibility of Individuals Living Outside the United States 
Entitled to Certain Social Security Benefits.--Receipt of a payment 
under this section shall not affect the eligibility of an individual 
residing outside the United States to receive benefits under title VIII 
of the Social Security Act (42 U.S.C. 1001 et seq.) or the amount of 
such benefits.
    (g) Release.--
            (1) In general.--Except as provided in paragraph (2), the 
        acceptance by an eligible person of a payment under this 
        section shall be final, and shall constitute a complete release 
        of any claim against the United States by reason of any service 
        described in subsection (c).
            (2) Payment of previously awarded benefits.--Nothing in 
        this section shall prohibit a person from receiving any benefit 
        to which the person is entitled based on a claim for which 
        benefits are awarded before the date of the enactment of this 
        Act.
    (h) Reports.--The Secretary shall include, in documents submitted 
to Congress by the Secretary in support of the President's budget for 
each fiscal year in which payments are made from the compensation fund 
under this section, detailed information on the operation of the 
compensation fund, including the number of applicants, the number of 
eligible persons receiving benefits, the amounts paid out of the 
compensation fund, and the administration of the compensation fund.
    (i) Regulations.--Not later than 90 days after the date of the 
enactment of this Act, the Secretary shall prescribe regulations to 
carry out this section.
    (j) Authorization of Appropriation.--There is authorized to be 
appropriated to the compensation fund $198,000,000, to remain available 
until expended, to make payments under this section.

            Passed the House of Representatives September 23, 2008.

            Attest:

                                            LORRAINE C. MILLER,

                                                                 Clerk.
Filipino Veterans Equity Act of 2008 - Establishes in the Treasury the Filipino Veterans Equity Compensation Fund, whose amounts shall be available to the Secretary of Veterans Affairs without fiscal year limitation to make payments to specified eligible persons who served: (1) before July 1, 1946, in the organized military forces of the government of the Commonwealth of the Philippines, while in the service of the Armed Forces of the United States; or (2) in the Philippine Scouts.

Sets the payment amounts at $15,000 for U.S. citizens and $9,000 for non-U.S. citizens. States that acceptance of such payment shall constitute a release of any claim against the United States for such service.

Requires the Secretary to include information concerning compensation fund operation within annual budget documents submitted to Congress.

Authorizes appropriations.
To authorize the Secretary of Veterans Affairs to make certain payments to eligible persons who served in the Philippines during World War II.