HF 2468 (LSB 5919HZ (3) 84)

HOUSE FILE 2468

BY  COMMITTEE ON APPROPRIATIONS

(SUCCESSOR TO HF 2297)
(SUCCESSOR TO HSB 598)

A BILL FOR

An Act relating to transfers to the veterans trust fund and including effective date provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  TRANSFER TO VETERANS TRUST FUND.  At the close of the fiscal year beginning July 1, 2011, following the appropriations made to the cash reserve fund pursuant to section 8.57, subsections 1 and 3, and the Iowa economic emergency fund pursuant to section 8.57, subsection 4, and following any transfer made from the Iowa economic emergency fund to the taxpayers trust fund pursuant to section 8.55, subsection 2, paragraph “a”, subparagraph (1), from the excess moneys that remain, an amount sufficient for the balance of the veterans trust fund created in section 35A.13 to reach fifty million dollars, up to the amount of excess moneys that remains, shall be transferred to the veterans trust fund, and any remaining excess shall be transferred to the general fund of the state as provided in section 8.55, subsection 2, paragraph “a”, subparagraph (2).
    Sec. 2.  Section 99G.9A, Code 2011, is amended to read as follows:
   99G.9A  Limited series of lottery games providing aid for veterans.
   The chief executive officer, in consultation with the board, shall develop and conduct two additional instant scratch and two additional pull tab lottery games annually to provide moneys for the benefit of veterans and their spouses and dependents. The moneys received from the sale of tickets for each lottery game shall be deposited in a special account in the lottery fund. Notwithstanding section 99G.39, after payment of the prizes, the remaining moneys shall be transferred to the veterans trust fund established pursuant to section 35A.13. However, if the balance of the veterans trust fund is fifty million dollars or more, the remaining moneys shall be appropriated to the department of revenue for distribution to county directors of veteran affairs, with fifty percent of the money to be distributed equally to each county and fifty percent of the money to be distributed to each county based upon the population of veterans in the county, so long as the money distributed to a county does not supplant money appropriated by that county for the county director of veteran affairs.
    Sec. 3.  EFFECTIVE UPON ENACTMENT.  This Act, being deemed of immediate importance, takes effect upon enactment.
EXPLANATION
   This bill relates to transfers to the veterans trust fund.
   Code section 99G.9A, providing for a limited series of lottery games providing aid for veterans, is amended to strike a contingent appropriation that would otherwise apply if the veterans trust fund balance is $50 million or more. 
   The bill also provides for a one-time transfer of moneys from the Iowa economic emergency fund to the veterans trust fund at the close of fiscal year 2011-2012. The bill provides for the transfer to be made after the standing appropriations of the amounts necessary for the cash reserve fund and the Iowa economic emergency fund to each reach their maximum balance.
   Under current law, when the economic emergency fund has reached its maximum balance, the first $60 million of the excess, limited to the difference between the actual net revenue for the general fund of the state for the fiscal year and the adjusted revenue estimate for the fiscal year, is transferred to the taxpayers trust fund. The bill provides that from the excess moneys that remain following the taxpayers trust fund transfer, an amount sufficient for the balance in the veterans trust fund to reach $50 million up to the amount of excess moneys that remains is to be transferred to the veterans trust fund. Any remaining excess is to be transferred to the general fund of the state, as is provided by current law.
   The bill takes effect upon enactment.