HSB 562 (LSB 5613YC (3) 89)

HOUSE FILE _____ 

BY  (PROPOSED COMMITTEE ON VETERANS AFFAIRS BILL BY CHAIRPERSON SALMON)

A BILL FOR

An Act increasing the amount the commission of veterans affairs may use from certain designated sources for the benefit of veterans.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 35A.13, subsection 4, paragraph a, Code 2022, is amended to read as follows:
   a.  The minimum balance of the trust fund required prior to expenditure of moneys from the trust fund is five million dollars. Once the minimum balance is reached, the interest and earnings on the fund and the first five eight hundred thousand dollars transferred each fiscal year pursuant to section 99G.39 from the lottery fund to the trust fund are appropriated to the commission to be used to achieve the purposes of subsection 6 of this section. Moneys appropriated to the commission that remain unobligated or unexpended at the end of each fiscal year shall revert to the trust fund. It is the intent of the general assembly that the balance in the trust fund reach fifty million dollars.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill increases the amount the commission of veterans affairs may use for the benefit of veterans pursuant to Code section 35A.13, out of amounts received annually from the state lottery fund, from $500,000 to $800,000.