Bonus Bill Law and Legal Definition

Bonus Bill refers to the follwoing two major bills of U.S. Congress:

1. Bonus Bill of 1817;

2. Bonus Bills of 1930.

Bonus Bill is also known as the World War Adjusted Compensation Act. The bonus bill is a kind of benefit plan for World War I veterans as additional compensation for their military service. Bonus Bill seeks to facilitate payments on insurance policies for World War veterans. The certificates, issued are known as "bonuses" because they supplement the pay and benefits and earned interest that service members would had received during war and became payable to a veteran in 1945 or to a veteran's family if s/he died prior to 1945.