To amend title 38, United States Code, to revise the effective date for payment of lump sums to persons awarded the Medal of Honor who are in receipt of special pension pursuant to section 1562 of such title, and for other purposes.

H.R. 4870 aims to ensure that Medal of Honor recipients and their families receive the full financial benefits associated with the nation’s highest military honor. The bill adjusts the effective date for special pension payments, allowing for a retroactive lump-sum payment that covers the period between the act of valor and the official awarding of the medal. Additionally, the legislation mandates that if a recipient is deceased or received the medal posthumously, these accumulated funds must be paid to their surviving family members in a specific order of priority.