A bill to amend title 38, United States Code, to establish a program to provide certain housing assistance to homeless veterans, to improve certain other programs that provide such assistance, and for other purposes.

Authorizes the Secretary of Veterans Affairs to make loans to nonprofit organizations, States, and political subdivisions to finance the purchase of property for housing assistance for homeless veterans. Outlines loan conditions and requirements. Directs the Secretary to ensure that the terms and conditions are similar to those applied to housing and small business loans under applicable Federal provisions. Authorizes the Secretary to limit the number and amount of loans under this Act.

Directs the Secretary to make available as transitional housing for homeless veterans and their families during each fiscal year at least ten percent of the total properties in possession of the Secretary at the beginning of such fiscal year as a result of a default on a housing loan made, guaranteed, or insured through the Department of Veterans Affairs. Directs the Secretary to lease such properties for up to three years to nonprofit organizations and State or local governments whose applications are approved. Directs the Secretary to collect from each approved entity a nominal rental charge for the property.

Directs an approved entity to use such property solely for the provision of housing for homeless veterans and their families and to collect rent from occupants in an amount which may not exceed the lesser of the costs incurred by the entity in operating and maintaining the property, or 30 percent of the occupants' income. Requires such entity to utilize the services of homeless veterans in maintaining, operating, and renovating the property. Prohibits the Secretary from making any properties available for such acquisition after FY 1997.

Authorizes the Secretary to lease to a representative of the homeless for a term in excess of three years any real property for which an application has been approved by the Secretary of Health and Human Services under appropriate provisions of the Stewart B. McKinney Homeless Assistance Act. Requires such representative to use the property for the provision of services to homeless veterans and their families and provide information and referral assistance to veterans and the homeless in such areas.

Amends such Act to authorize appropriations through FY 1995 for a project aimed at reintegrating homeless veterans into the labor force.