This legislation aims to allow veterans who have been awarded the Purple Heart for service in the Armed Forces on or after September 11, 2001, to transfer a portion of their unused Post-9/11 Educational Assistance benefits. These eligible veterans may transfer up to 36 months of their entitlement to one or more designated eligible dependents, which include spouses and children as defined in military law.

The bill specifies that the transferring individual must designate the dependents and the number of months transferred to each, with the ability to modify or revoke the transfer of any unused portion at any time. Importantly, transferred entitlement cannot be treated as marital property in divorce proceedings, and dependents generally cannot commence using benefits until they complete high school or reach 18 years of age.

Provisions also address the continuity of benefits, stating that the death of the transferor does not affect the dependent's use of transferred entitlement, and in some cases, allows for redistribution if the transferor dies before fully allocating benefits. While child transferees typically face an age 26 limit for using benefits, exceptions are made for those acting as primary caregivers for seriously injured veterans or servicemembers, or in situations involving school closures due to emergencies.

Finally, the legislation clarifies that both the dependent and the transferor are jointly and severally liable for any overpayment of educational assistance. It mandates coordination between the Secretary of Veterans Affairs and the Secretary of Defense to facilitate these transfers and requires the prescription of regulations detailing authorization, eligibility criteria, and modification procedures.