General Assembly: 80 (2003 Regular GA) - Chapter 131 - Veterans trust fund

Published: 2003-05-15

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CH. 131CH. 131



H.F. 676

AN ACT establishing a veterans trust fund under the control of the commission of veterans affairs and providing a contingent appropriation.

Be It Enacted by the General Assembly of the State of Iowa:

Section 1. NEW SECTION. 35A.13 VETERANS TRUST FUND. 1. For the purposes of this section, “veteran” means the same as defined in section 35.1 or

a resident of this state who served in the armed forces of the United States, completed a mini- mum aggregate of ninety days of active federal service, and was discharged under honorable conditions. 2. A veterans trust fund is created in the state treasury under the control of the commission. 3. The trust fund shall consist of all of the following: a. Moneys in the form of a devise, gift, bequest, donation, federal or other grant, reimburse-

ment, repayment, judgment, transfer, payment, or appropriation from any source intended to be used for the purposes of the trust fund. b. Interest attributable to investment of moneys in the fund or an account of the trust fund.

Notwithstanding section 12C.7, subsection 2, interest or earnings onmoneys in the trust fund shall be credited to the trust fund. 4. Moneys credited to the trust fund shall not be transferred, used, obligated, appropriated,

or otherwise encumbered, except as provided in this section. Moneys in the trust fund may be used for cash flow purposes during a fiscal year provided that any moneys so allocated are returned to the trust fund by the end of that fiscal year. 5. Theminimumbalance of the trust fund required prior to expenditure ofmoneys from the

trust fund is fiftymillion dollars. Once theminimumbalance is reached, the interest and earn- ings on the fund and anymoneys received under subsection 3, paragraph “a”, are appropriated to the commission to be used to achieve the purposes of this section. 6. Moneys appropriated to the commission under this section shall not be used to supplant

funding previously provided by other sources. Themoneysmay be expended upon amajority vote of the commission membership for the benefit of veterans and the spouses and depen- dents of veterans, for any of the following purposes: a. College tuition aid. b. Job training aid. c. Expenses relating to an individual receiving care by a nursing facility that are not payable

by any other sources. d. Benefits provided to children of disabled or deceased veterans. e. Unemployment aid needed during a veteran’s unemployment due to prolonged illness or

disability resulting from military service. A diagnosed case of mental distress due to military service-related activities shall be included as a disability under this paragraph. f. Other purposes identified by the commission.

Approved May 15, 2003