A bill to raise the Veterans' Administration to the status of an executive department of the Government to be known as the Department of Veterans' Affairs.

Establishes the Department of Veterans' Affairs which shall be headed by a Secretary of Veterans' Affairs.

Transfers to and vests in the Secretary all of the functions, duties, and powers vested by any statute, provision of law, reorganization plan, or Executive order in the Administrator of Veterans' Affairs.

Transfers to the Secretary all personnel, property, records, assets, contracts, obligations, and commitments of the Veterans' Administration and all unexpended balances of appropriations, authorizations, or other funds held, used, arising from, or available to, the Veterans' Administration.

States that the Act shall take effect when specified by Executive order of the President, but not later than six months after the date of enactment.