HF 811

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to military affairs; creating a military
assistance trust fund and specifying uses of the fund;
authorizing rulemaking; appropriating money; proposing
coding for new law in Minnesota Statutes, chapter 190.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [190.19] MILITARY ASSISTANCE TRUST FUND.
new text end

new text begin (a) The military assistance trust fund is established in
the state treasury. The trust fund consists of those funds
designated to the trust fund by law.
new text end

new text begin (b) Money deposited in the trust fund established in
paragraph (a) is inviolate and constitutes a permanent and
perpetual trust fund. Money designated to the trust fund must
be transmitted to the State Board of Investment for credit to
the trust fund and invested by the State Board of Investment so
as to obtain the highest return possible consistent with the
preservation of the corpus. The interest earned from investment
of the corpus of the trust fund must be credited by the
commissioner of finance not later than June 30 of each year into
a separate account within the state treasury and distributed as
provided in section 190.20.
new text end

Sec. 2.

new text begin [190.20] USES OF TRUST FUND; APPROPRIATION;
RULEMAKING.
new text end

new text begin (a) The investment income from the military assistance
trust fund created by section 190.19 is appropriated to the
adjutant general to alleviate financial hardships faced by:
new text end

new text begin (1) any member of the Minnesota National Guard or a reserve
unit that is based in Minnesota who has been called to active
duty or active state service;
new text end

new text begin (2) any Minnesota resident who is a member of a military
reserve unit that is not based in Minnesota, if the member is
called to active duty;
new text end

new text begin (3) any other Minnesota resident performing active duty
service for any branch of the military of the United States; and
new text end

new text begin (4) members of the immediate family of a person identified
in clauses (1) to (3). For purposes of this clause, "immediate
family" means the spouse and each child and, if they are
dependents of the member of the military, the parents,
grandparents, siblings, stepchildren, and adult children of the
member of the military.
new text end

new text begin (b) The interest income earned from the military assistance
trust fund must only be used as a last resort to assist eligible
military personnel and families dealing with financial hardship
resulting from the military member's active duty status and must
not be used to supplant any other private or public funds to the
extent funds are available.
new text end

new text begin (c) The adjutant general must adopt rules to establish
eligibility requirements for assistance under this section. In
developing rules, the adjutant general shall consult with
military support groups including, but not limited to, the
family assistance fund and family assistance centers.
new text end

Sec. 3.

new text begin [190.21] ANNUAL REPORT.
new text end

new text begin (a) By January 15 of each year, the adjutant general shall
provide a report to the governor and the senate and house
committees with jurisdiction over military affairs policy and
finance specifying:
new text end

new text begin (1) the total amount of interest income earned from the
military assistance trust fund during the preceding fiscal year;
new text end

new text begin (2) the total amount of assistance provided from the
interest income earned from the military assistance trust fund;
and
new text end

new text begin (3) the amount of assistance provided from the interest
income earned from the military assistance trust fund by branch
of service, regular or reserve duty classification, amounts of
individual assistance provided, the reasons that qualified a
member of the military or the member's family for assistance,
and the balance remaining within the interest income account for
future disbursements.
new text end

new text begin (b) The adjutant general may request assistance from the
State Board of Investment to prepare the annual report required
by this section.
new text end

Sec. 4. new text begin TRANSFER.
new text end

new text begin By July 1, 2005, the commissioner of finance shall transfer
$....... from the general fund to the military assistance trust
fund.
new text end