A bill to amend section 1903 of title 38, United States Code, to provide a direct long term low interest loan for the replacement of an automobile or other conveyance previously provided under chapter 39 of this title.

Provides to each eligible person for whom the Veterans' Administration has purchased an automobile with specially adapted equipment a loan, not to exceed $5,000, for the purpose of replacing the automobile or conveyance so purchased. Limits the interest on such loan to no more than six percent annually, repayable over a term of four years, and limits the number of such loans to one per eligible person.