Bills › 88th General Assembly
Providing for deposit of certain fees relating to specified motor vehicle registration plates to the veterans trust fund
Sponsored by the Senate Veterans Affairs Committee
Topics:TransportationVeterans & military
Same legislation: SSB 3044
Where it is now
- Done: IntroducedJanuary 16, 2020
- Done: SubcommitteeJanuary 16, 2020
- Done: Senate committeeFebruary 18, 2020
- Stopped: Passes the SenateDied when the General Assembly ended
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
AI summary Money collected from several types of military-themed license plates will now go into the veterans trust fund instead of the veterans license fee fund. This change also moves any leftover money from the old license fee fund into the new veterans trust fund.1
Read the official explanation
The inclusion of this explanation does not constitute agreement with the explanation’s substance by the members of the general assembly. This bill provides for the deposit of certain fees relating to special military-related motor vehicle registration plates to the veterans trust fund instead of the veterans license fee fund.11. The bill repeals the veterans license fee fund and provides that any moneys that remain unobligated or unexpended as of June 30, 2020, in the veterans license fee fund shall be deposited in the veterans trust fund.
Senate subcommittee
Named January 16, 2020 (as SSB 3044). On January 22, 2020 it recommended amendment and passage.
- Sen. Jeff Edler R
- Sen. Jim Carlin R
- Sen. Giddens
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Fiscal note
Cost: up to $377,000 Compare with other bills
AI summary This bill moves the fees collected from special military-related license plates into the Veterans Trust Fund and repeals the Veterans License Fee Fund. The Veterans Trust Fund is estimated to increase by $377,000 in fiscal year 2021 and by $77,000 in fiscal year 2022 and annually thereafter.3
Read the fiscal note
Description
Senate File 2316 changes the deposit of fees from special military-related license plates from the Veterans License Fee Fund to the Veterans Trust Fund (VTF). The Veterans License Fee Fund is repealed and any remaining balance is transferred to the Veterans Trust Fund at the end of the current fiscal year.
Background
The Veterans License Fee Fund is administered by the Commission of Veterans Affairs created in Iowa Code section 35A.11. Special military-related license plates are issued at no charge, but owners are charged an ongoing annual fee, which is deposited in the Veterans License Fee Fund. The Commission can use the Fund to fulfill the responsibilities of the Commission and to honor and promote veterans of Iowa.
The VTF is under the control of the Commission and is used to assist veterans and their families who meet certain income and asset guidelines.
Assumptions
- Annual fees from special military-related license plates have averaged $77,000 per year.
- The current balance of the Veterans License Fee Fund is approximately $274,000.
- License plate fees for the remainder of FY 2020 will total $37,000.
- All special military-related license fees will be deposited in the principal portion of the Veterans Trust Fund.
- The amount spent by the Commission for the remainder of FY 2020 is unknown.
- The transferred funds will be deposited in the principal portion of the VTF.
Fiscal Impact
With the enactment of SF 2316, the Veterans Trust Fund will increase by an estimated $377,000 in FY 2021 and by $77,000 in FY 2022 and annually thereafter.
Sources
- LSA Analysis & Calculations
- Veterans License Plate Fee Fund, Veterans Trust Fund · February 24, 2020 · $377,000
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88th General Assembly