Senate File 2318 - Introduced



                                    SENATE FILE       
                                    BY  COMMITTEE ON VETERANS
                                        AFFAIRS

                                    (SUCCESSOR TO SSB 3274)

                                    (COMPANION TO HF 2359 BY
                                     COMMITTEE ON VETERANS AFFAIRS)


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

                                      A BILL FOR

  1 An Act concerning veterans, including expenditures from the
  2    veterans trust fund and authorization of lottery games for
  3    veterans.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 5941SV 82
  6 ec/nh/5

PAG LIN



  1  1    Section 1.  Section 35A.13, subsection 5, Code Supplement
  1  2 2007, is 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 million
  1  5 dollars.  However, for the fiscal period beginning July 1,
  1  6 2006, and ending June 30, 2009, the minimum balance of the
  1  7 trust fund required prior to expenditure of moneys from the
  1  8 trust fund is five million dollars.  Once the minimum balance
  1  9 is reached, the interest and earnings on the fund and any
  1 10 moneys received under subsection 3, paragraph "a", are
  1 11 appropriated to the commission to be used to achieve the
  1 12 purposes of this section.
  1 13    Sec. 2.  NEW SECTION.  99G.9A  LIMITED SERIES OF LOTTERY
  1 14 GAMES PROVIDING AID FOR VETERANS.
  1 15    The chief executive officer, in consultation with the
  1 16 board, shall develop and conduct two additional instant
  1 17 scratch and two additional pull tab lottery games annually to
  1 18 provide moneys for the benefit of veterans and their spouses
  1 19 and dependents.  The moneys received from the sale of tickets
  1 20 for each lottery game shall be deposited in a special account
  1 21 in the lottery fund.  Notwithstanding section 99G.39, after
  1 22 payment of the prizes, the remaining moneys shall be
  1 23 transferred to the veterans trust fund established pursuant to
  1 24 section 35A.13.  However, if the balance of the veterans trust
  1 25 fund is fifty million dollars or more, the remaining moneys
  1 26 shall be appropriated to the department of veterans affairs
  1 27 for the purposes of the department.
  1 28                           EXPLANATION
  1 29    This bill concerns the veterans trust fund and lottery
  1 30 games for veterans.
  1 31    Code section 35A.13, establishing the veterans trust fund,
  1 32 is amended to provide that the minimum balance before
  1 33 expenditures from interest and earnings on the fund can be
  1 34 made is $5 million.  Currently, the minimum balance required
  1 35 until June 30, 2009, is $5 million and the minimum balance
  2  1 required after that date is $50 million.
  2  2    The bill also provides that the chief executive officer of
  2  3 the lottery authority shall develop and conduct two additional
  2  4 instant scratch and two additional pull tab lottery games
  2  5 annually for the benefit of veterans.  Moneys received from
  2  6 the games, less prizes, shall be deposited in the veterans
  2  7 trust fund, currently controlled by the commission of veterans
  2  8 affairs, for the benefit of veterans and their spouses and
  2  9 dependents.
  2 10    Once the balance in the veterans trust fund reaches $50
  2 11 million, the bill provides that proceeds from the games shall
  2 12 be appropriated to the department of veterans affairs.
  2 13 LSB 5941SV 82
  2 14 ec/nh/5