Relating to the administration of the veterans trust fund

This bill relates to the administration of the veterans trust fund. The bill no longer allows veterans trust fund moneys to be used for cemetery development purposes in certain situations. The bill prohibits the commission of veterans affairs (CVA) from using any moneys appropriated to the CVA in a fiscal quarter in an amount greater than percent of the moneys appropriated. The bill requires, for an applicant to be eligible to receive benefits from the veterans trust fund, the applicant’s household income, benefits from the federal veterans pension program, service-connected disability income, and social security income to be at or below 200 percent of the federal poverty level for a family of applicable size in effect on the date the application was received by a county director of veterans affairs. The CVA may waive income requirements if all the applicant’s income is from a fixed source and all other sources of assistance have been exhausted. The bill also requires, for an applicant to be eligible to receive benefits from the veterans trust fund, the applicant’s available liquid assets to be equal to or less than $15,000. The bill defines “available liquid assets” as cash on hand, cash in a checking or savings account, stocks, bonds, certificates of deposit, treasury bills, and money market funds and other liquid investments owned individually or jointly by the applicant and the applicant’s spouse. However, an asset is not an available liquid asset if it is the cash surrender value of a life insurance policy, real property, an established burial account, or a personal vehicle. plan), or a deferred compensation plan that the applicant may not withdraw from without incurring a penalty. The bill limits the benefits an individual may receive from the veterans trust fund to $5,000 in any calendar year and $10,000 for the lifetime of the individual. The bill directs the director of the department of veterans affairs to oversee the management of the veterans trust fund, including compliance with limits on grant amounts, the timely distribution of moneys, and the application of procedures to ensure applicant eligibility. The bill requires any grant of moneys from the veterans trust fund to be subject to final approval by the director of the department of veterans affairs or the director’s designee.13, subsection 4, paragraph “d”, and subsection 7, paragraph “l”.