A bill to amend title 38, United States Code, to modify the commencement of the period of payment of original awards of compensation for veterans who are retired or separated from the uniformed services for disability.

Commences the payment of original awards of veterans' disability compensation, in the case of veterans who are retired or separated from active military service for a disability or disabilities, as of the date the award becomes effective.

Provides a similar effective date for a waiver by such veterans of military retired or retainer pay in an amount equal to the disability compensation received.