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Senate File 2267 - IntroducedA Bill ForAn Act 1relating to the investment and use of funds in the
2veterans trust fund.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 35A.13, subsections 1 and 3, Code 2020,
2are amended to read as follows:
31. A veterans trust fund is created as a separate and
4distinct fund in the state treasury under the control of the
5commission. Moneys in the trust fund may be invested by the
6treasurer of state in any investments authorized for the Iowa
7public employees’ retirement system in section 97B.7A.
83. Moneys credited to the trust fund shall not be
9transferred, used, obligated, appropriated, or otherwise
10encumbered, except as provided in this section. Moneys in the
11trust fund may be used for cash flow purposes during a fiscal
12year provided that any moneys so allocated are returned to the
13trust fund by the end of that fiscal year. Moneys in the trust
14fund may also be used for cemetery grant development purposes
15provided that any moneys so allocated, except for moneys used
16for department of administrative services expenditures related
17to the grant, are returned to the trust fund upon receipt of
18federal funds received for such purposes.
19EXPLANATION
20The inclusion of this explanation does not constitute agreement with
21the explanation’s substance by the members of the general assembly.
22This bill concerns the veterans trust fund.
23The bill authorizes the treasurer of state to invest moneys
24in the trust fund in any investments authorized for the Iowa
25public employees’ retirement system in Code section 97B.7A.
26 The bill also eliminates the ability to use moneys in the
27veterans trust fund for cash flow purposes in a fiscal year.
-1-ec/rn
2veterans trust fund.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 35A.13, subsections 1 and 3, Code 2020,
2are amended to read as follows:
31. A veterans trust fund is created as a separate and
4distinct fund in the state treasury under the control of the
5commission. Moneys in the trust fund may be invested by the
6treasurer of state in any investments authorized for the Iowa
7public employees’ retirement system in section 97B.7A.
83. Moneys credited to the trust fund shall not be
9transferred, used, obligated, appropriated, or otherwise
10encumbered, except as provided in this section. Moneys in the
11trust fund may be used for cash flow purposes during a fiscal
12year provided that any moneys so allocated are returned to the
13trust fund by the end of that fiscal year. Moneys in the trust
14fund may also be used for cemetery grant development purposes
15provided that any moneys so allocated, except for moneys used
16for department of administrative services expenditures related
17to the grant, are returned to the trust fund upon receipt of
18federal funds received for such purposes.
19EXPLANATION
20The inclusion of this explanation does not constitute agreement with
21the explanation’s substance by the members of the general assembly.
22This bill concerns the veterans trust fund.
23The bill authorizes the treasurer of state to invest moneys
24in the trust fund in any investments authorized for the Iowa
25public employees’ retirement system in Code section 97B.7A.
26 The bill also eliminates the ability to use moneys in the
27veterans trust fund for cash flow purposes in a fiscal year.
-1-ec/rn