Bill
Bill > HF534
summary
Introduced
02/20/2025
02/20/2025
In Committee
03/14/2025
03/14/2025
Crossed Over
Passed
Dead
Introduced Session
91st General Assembly
Bill Summary
This bill relates to the veterans trust fund. The bill requires that each fiscal year in which the balance of the veterans trust fund is below $75 million, rather than $50 million, the interest on the veterans trust fund and the first $500,000 received from the lottery fund be appropriated to the commission of veterans affairs to provide various benefits to veterans and veterans’ families according to Code section 35A.13(8). The bill removes the requirement that when the balance of the veterans trust fund is above $50 million but was below $50 million the previous fiscal year, moneys transferred from the lottery fund be appropriated to the commission of veterans affairs to be used according to Code section 35A.13(8). The bill also removes the requirement that when the balance of the veterans trust fund for both the present and the previous fiscal year are above $50 million, the net income of the veterans trust fund from the previous fiscal year be appropriated to the commission of veterans affairs to be used according to Code section 35A.13(8). The bill removes the requirement that the moneys from the lottery fund be distributed to county directors of veteran affairs when the veterans trust fund has a balance of more than $50 million, and terminates transfers from the lottery fund for each fiscal year in which the veterans trust fund has a balance of at least $75 million.
AI Summary
This bill modifies the rules governing the veterans trust fund by raising the fund's balance threshold from $50 million to $75 million. Under the new provisions, when the trust fund's balance is below $75 million at the start of a fiscal year, the fund will receive interest earnings and the first $500,000 from the lottery fund. The bill eliminates previous complex provisions that dictated different funding scenarios based on the fund's balance, such as specific appropriation rules for years when the fund was above or below $50 million. Additionally, the bill removes the requirement that lottery funds be distributed to county directors of veteran affairs when the trust fund balance exceeds $50 million, and instead stops lottery fund transfers entirely if the trust fund balance reaches or exceeds $75 million at the beginning of a fiscal year. These changes aim to simplify the funding mechanism for the veterans trust fund and provide more consistent support for veterans' programs by ensuring a more stable funding stream when the fund's balance is lower.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Veterans Affairs (House)
Last Action
House Appropriations Committee (09:00:00 4/9/2025 RM 103) (on 04/09/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=HF534 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/HF534.html |
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