REPORT ON COMPENSATION OF VETERANS FOR LOSS OF EARNING CAPACITY AND QUALITY OF LIFE AND ON LONG-TERM TRANSITION PAYMENTS TO VETERANS UNDERGOING REHABILITATION FOR SERVICE-CONNECTED DISABILITIES.

SEC. 213. REPORT ON COMPENSATION OF VETERANS FOR LOSS OF EARNING CAPACITY AND QUALITY OF LIFE AND ON LONG-TERM TRANSITION PAYMENTS TO VETERANS UNDERGOING REHABILITATION FOR SERVICE-CONNECTED DISABILITIES.(a) Report Required.—Not later than 210 days after the date of the enactment of this Act, the Secretary of Veterans Affairs shall submit to Congress a report on the findings of the Secretary as a result of the following studies:(1) The most recent study of the Secretary on the appropriate levels of disability compensation to be paid to veterans to compensate for loss of earning capacity and quality of life as a result of service-related disabilities.(2) The most recent study of the Secretary on the feasability and appropriate level of long-term transition payments to veterans who are separated from the Armed Forces due to disability while such veterans are undergoing rehabilitation for such disability.(b) Elements.—The report required by subsection (a) shall include the following:(1) A comprehensive description of the findings and recommendations of the Secretary as a result of the studies described in subsection (a).(2) A description of the actions proposed to be taken by the Secretary in light of such findings and recommendations, including a description of any modification of the schedule for rating disabilities of veterans under section 1155 of title 38, United States Code, proposed to be undertaken by the Secretary and of any other modification of policy or regulations proposed to be undertaken by the Secretary.(3) For each action proposed to be taken as described in paragraph (2), a proposed schedule for the taking of such action, including a schedule for the commencement and completion of such action.(4) A description of any legislative action required in order to authorize, facilitate, or enhance the taking of any action proposed to be taken as described in paragraph (2).