Bill > H3875

This bill establishes a new Veterans Research Trust Fund within Chapter 115 of the Massachusetts General Laws, designed to support research on veterans' issues. The fund will be composed of multiple revenue sources, including: (1) money received from cannabis-related activities under Chapter 94G, (2) specific transfers designated by the general court, (3) public and private funding such as gifts, grants, and donations, and (4) interest earned on the fund's money. Notably, any unspent money in the fund at the end of a fiscal year will not be returned to the General Fund, ensuring continuous financial support. A commission will manage the fund, using its resources to conduct veterans' research and cover its own operational costs, with a strict limitation that administrative expenses cannot exceed 10% of the fund's annual expenditures. This approach provides a dedicated and stable funding mechanism for supporting veteran-related research and ensuring that the majority of funds directly support research initiatives.

Military Affairs and Security

https://malegislature.gov/Bills/194/H3875