Bill
Bill > SF617
IA SF617
A bill for an act relating to the veterans trust fund.(Formerly SF 252, SSB 1050.)
summary
Introduced
03/25/2025
03/25/2025
In Committee
Crossed Over
04/14/2025
04/14/2025
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 provisions related to the Veterans Trust Fund by changing the threshold for fund balance and adjusting how lottery fund revenues are allocated. Specifically, the bill raises the fund balance threshold from $50 million to $75 million, which impacts how interest earnings and lottery fund transfers are handled. Under the new provisions, when the Veterans Trust Fund balance is below $75 million (instead of the previous $50 million), the interest and the first $500,000 from lottery revenues will be appropriated to the Commission of Veterans Affairs to provide benefits to veterans and their families. The bill eliminates previous complex rules about fund allocations when the balance was at different levels, simplifying the funding mechanism. Additionally, the bill stops transfers from the lottery fund in any fiscal year where the Veterans Trust Fund balance is $75 million or more. These changes aim to provide more predictable and potentially more robust funding for veterans' programs by adjusting the financial triggers that determine fund allocations.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Appropriations (S)
Last Action
Message from Senate. H.J. 935. (on 04/15/2025)
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=SF617 |
| Fiscal Note/Analysis - NOBA: Senate Floor | https://www.legis.iowa.gov/docs/publications/NOBA/1526029.pdf |
| Fiscal Note/Analysis - NOBA: Senate Full Approps | https://www.legis.iowa.gov/docs/publications/NOBA/1525003.pdf |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/SF617.html |
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