A bill to amend the Internal Revenue Code of 1986 with respect to the eligibility of veterans for mortgage bond financing, and for other purposes.

Amends the Internal Revenue Code with respect to the additional requirements for qualified veterans mortgage bonds to: (1) revise the definition of a qualified veteran to mean any veteran who served on active duty (removes the limitation of service before January 1, 1977) and who applied for financing before 30 years after leaving service (removes the additional proviso of, or before January 31, 1985); (2) revise the State veterans limit; (3) permit a State to elect to carry forward any of such unused limitation.