State Home Amendments Act of 1987

State Home Amendments Act of 1987 - Amends Federal provisions relating to the acquisition by the Administrator of Veterans Affairs of facilities for veterans' State homes to authorize the Administrator to award and record as an obligation of the United States a grant for a project for which a State has submitted drawings and specifications that are 80 percent complete and which will meet all remaining requirements within six months. Prohibits the Administrator from certifying any amount for project payment until all requirements for such facilities are met. Directs the Administrator to rescind the contract award and deobligate such funds if all requirement are not met within the six-month deadline. Authorizes the Administrator to increase by up to ten percent the grant amount awarded, in certain circumstances.

Authorizes the Administrator, between June 30th and October 1, 1987, to award a grant for a project for construction or acquisition of State home facilities if, prior to July 1, 1987, the Administrator notified the State submitting the grant application of the availability of funding for the grant and if the Administrator makes certain findings relating to the grant, the project, and the State's application for such project, including a finding that the grant amount does not exceed 65 percent of the project's estimated cost of construction.