This bill proposes the establishment of the Veterans' Reinvestment Fund, which will consist of legislative appropriations, grants, gifts, donations, and contributions. The fund will be administered by the state treasurer in consultation with the director of the department of veterans' services. The state treasurer will also be responsible for investing the fund's monies, with earnings credited back to the fund. Notably, the bill stipulates that the fund's monies will not lapse as per current law, and fifty percent of the fund will be allocated each fiscal year to the department of veterans' services for various programs aimed at supporting veterans, including education, job opportunities, health services, mental health support, and housing.

Additionally, the bill appropriates $51,800,000 and thirty-one full-time equivalent (FTE) positions from the state general fund for the fiscal year 2026-2027 specifically for the Veterans' Reinvestment Fund. This appropriation is also exempt from the provisions regarding lapsing of appropriations, ensuring that the funds will remain available for their intended purpose without the risk of being lost at the end of the fiscal year.

Statutes affected:
Introduced Version: 41-181