House Study Bill 581



                                       HOUSE FILE       
                                       BY  (PROPOSED COMMITTEE ON
                                            VETERANS AFFAIRS BILL BY
                                            CHAIRPERSON FREEMAN)


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act concerning the minimum balance necessary in order to
  2    expend funds from the veterans trust fund.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 5954YC 81
  5 ec/je/5

PAG LIN



  1  1    Section 1.  Section 35A.13, subsection 5, Code 2005, is
  1  2 amended to read as follows:
  1  3    5.  The minimum balance of the trust fund required prior to
  1  4 expenditure of moneys from the trust fund is fifty five
  1  5 million dollars.  Once the minimum balance is reached, the
  1  6 interest and earnings on the fund and any moneys received
  1  7 under subsection 3, paragraph "a", are appropriated to the
  1  8 commission to be used to achieve the purposes of this section.
  1  9                           EXPLANATION
  1 10    This bill reduces the minimum balance required prior to
  1 11 expenditure of moneys from the veterans trust fund from $50
  1 12 million to $5 million.
  1 13 LSB 5954YC 81
  1 14 ec:rj/je/5