An Act relative to the establishment of a veterans research trust fund

Plain English Breakdown

The official source material does not provide specific details on the commission's composition, operational procedures beyond cost limitations, or exact funding amounts and sources.

Setting Up a Fund for Veterans' Research

This act establishes a fund called the Veterans Research Trust Fund to support research about veterans and covers operational costs.

What This Bill Does

• Creates a new fund named the Veterans Research Trust Fund.
• The fund will receive money from various sources, including gifts, grants, donations, and interest earned on its funds.
• Money in the fund that is not used by the end of each year stays in the fund for future use.
• A commission manages how the money is spent. They can only spend up to 10% of their budget on operational costs.

Who It Names or Affects

• Veterans who benefit from research funded by this trust fund.
• The government agency that manages the Veterans Research Trust Fund.

Terms To Know

Trust Fund

A special account where money is kept for a specific purpose, like helping veterans with research.

Commission

A group of people who manage and make decisions about the Veterans Research Trust Fund.

Limits and Unknowns

• The bill does not specify how much money will be put into the fund or from where.
• It is unclear when this act might become law since it has been referred to a committee for further study.

Official Summary Text

An Act relative to the establishment of a veterans research trust fund
By Representative Reid of Lynn, a petition (accompanied by bill, House, No. 3875) of Sean Reid relative to the establishment of a veterans research trust fund. Veterans and Federal Affairs.

Current Bill Text

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Bill H.3875

Chapter 115 of the General Laws is hereby amended by adding the following section:-

Section 18. (a) There shall be a Veterans Research Trust Fund to be expended, without further appropriation, by the commission established in this section. The fund shall consist of: (i) monies received under subsection (b) of section 14 of chapter 94G; (ii) money transferred to the fund by the general court and specifically designated to be credited to the fund; (iii) funds from public and private sources, including, but not limited to, gifts, grants and donations; and (iv) interest earned on such money. Amounts credited to the fund that are unexpended at the end of a fiscal year shall not revert to the General Fund. The commission shall use money from the fund for the research of veterans’ issues and its members’ individual operational costs as a base amount at the beginning of each Fiscal Year. The commission’s operation costs shall not exceed 10 per cent of the money it expends in a fiscal year.

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