An original bill to amend title 38, United States Code, to provide for certain Veterans' Administration benefits, which are paid based on the service-connected disability or death of a veteran, to be paid in accordance with laws administered by the Veterans' Administration and to provide for certain Veterans' Administration insurance policy loans to be made and revolving funds to be administered in accordance with such laws, and to provide for Veterans' Administration home loan guaranty reports under certain circumstances, and for other purposes.

Amends Federal veterans' benefits provisions to require the following veterans' benefits to be provided, unless specifically excepted by law, in accordance with laws administered by the Veterans Administration (VA) and without regard to any law providing for the cancellation of authority to make such payments: (1) burial benefits; (2) specially adapted housing and mortgage protection life insurance; (3) rehabilitation services and assistance; (4) adapted automobiles and adaptive automobile equipment; (5) veterans' insurance policy loans; (6) payments from the special therapeutic and rehabilitation activities fund; and (7) payments from the canteen services revolving fund. Excludes certain veterans' benefits (death benefits for service-connected disability, and specially-adapted housing, automobiles, and other adaptive equipment) from inclusion in the computation of reductions in any budget accounts required by any law providing for the cancellation of authority to make such payments.

Requires the Administrator of Veterans Affairs, during any fiscal year in which the President issues a sequestration order limiting the total amount of VA home loan guaranty commitments allowed during that year, to submit to the Senate and House Veterans' Affairs Committees monthly reports on the VA's home loan guaranty program commitment activity to date and estimates of commitment activity for the remainder of that fiscal year.