House Bill No. 416 aims to expand the Louisiana Military Family Assistance Fund by allowing expenditures for burial fees and costs for deceased indigent veterans and their spouses. The bill defines "indigent" as individuals receiving public assistance or earning below 200% of the Federal Poverty Guideline prior to their death. Additionally, it introduces provisions for annual grants from the fund, which can be issued by the Louisiana Military Family Assistance Board to tax-exempt organizations focused on improving the education, mental health, or housing needs of veterans and their families. Each grant is capped at $10,000, with a cumulative limit of $100,000 per fiscal year.

The proposed law also establishes specific application requirements for the grants, mandates that funds be used strictly according to approved project proposals, and requires grantees to submit final reports detailing expenditures. Grantees must retain financial records for four years and repay any unused funds within thirty days of submitting their final report. The bill further allows for audits by the Military Family Assistance Board and the legislative auditor to ensure compliance with the grant terms.