HF 2501: Relating to the investment and use of funds in the veterans trust fund

What it does

This bill relates to the investment and use of funds in the veterans trust fund. The bill exempts the veterans trust fund (trust fund) from rules adopted by the treasurer of state to limit certain investments of public funds. The bill removes the ability to use moneys from the trust fund for cash flow purposes. The bill allows the treasurer of state, in consultation with the commission of veterans affairs (commission) and the public retirement systems committee, to invest moneys in the trust fund not necessary for disbursements to benefit veterans in any investments authorized for the Iowa public employees’ retirement system.

Senate subcommittee · named March 3, 2022

• Sen. Mark S. Lofgren (R) · mark.lofgren@legis.iowa.gov
• Sen. Eric Giddens (D)
• Sen. Jeff Reichman (R) · jeff.reichman@legis.iowa.gov

Lobbying · 6 for, 0 against

For: American Legion of Iowa; Iowa State Association of Counties; Iowa State Commission of Veterans Affairs; Veterans National Recovery Center; Veterans of Foreign Wars; Department of Iowa; Vietnam Veterans of America, Inc., State Council

In plain words

1. February 21, 2022Filed in the House
2. March 2, 2022Passed the House, 99–0
3. March 3, 2022Arrived in the Senate
4. March 3, 2022Senate subcommittee named: Lofgren, Giddens and Reichman
5. March 7, 2022Subcommittee recommended passing it
6. March 8, 2022Approved by the Senate committee
7. March 30, 2022Passed the Senate, 47–0
8. April 21, 2022Sent to the Governor
9. April 21, 2022Signed into law