Directs the Secretary of Veterans Affairs, with respect to veterans who have been discharged from active-duty service for 365 days or less and for whom a permanent disability rating is not immediately assignable, to assign a pre-stabilization disability rating of: (1) 100%, for a veteran with a severe disability for whom substantially gainful employment is not feasible or advisable; and (2) 50%, for a veteran with a wound or injury for whom material impairment of employability is likely.
Terminates the pre-stabilization rating: (1) when a veteran receives a permanent disability rating based on the Department of Veterans Affairs (VA) schedule for rating disabilities; or (2) 365 days after the veteran's last separation or release from active duty. Allows the Secretary, when appropriate, to extend the pre-stabilization rating beyond such date.