Veterans Earned Their Bonus Act or the VET Bonus Act

This bill prohibits the Department of the Army from recouping a bonus or similar benefit that was provided to a member of the California Army National Guard between January 1, 2004, and December 31, 2010, unless the Army proves, after a hearing opportunity, that the member knowingly: (1) participated in fraud or misrepresentation to receive the bonus or benefit, or (2) failed to satisfy the service requirement upon which the bonus or benefit was conditioned.

A member shall be presumed to have acted in good faith in procuring the bonus or benefit and to have satisfied the service requirement.

The Army shall: (1) reimburse a member for any amount previously recouped, plus interest; (2) notify each consumer reporting agency that any debt and recoupment measures linked to the bonus or benefit were not valid; and (3) provide financial assistance to a member who is facing financial hardship because of the recoupment measures.