Legislative Update for July 3, 2012
VETERANS TRUST FUND SOVENCY OPTIONS RELEASED
The Secretary of the Department of Veterans Affairs was required in the budget to prepare recommendations for long-term viable funding options for the Veterans Trust Fund. DVA and the board reached out to the veterans’ community and asked for assistance and suggestions in creating recommendations. The most frequently suggested recommendations include:
- Statutory Language Changes: Give DVA the flexibility to transfer revenue from the homes fund to the VTF after meeting the needs of the homes, and add a contingency amount to the rates that could also be transferred after meeting the needs of the homes.
- Veterans Themed Lottery: Explore the process for creating a Wisconsin veterans-themed lottery.
- Professional Sports and Entertainment: Obtain authority to utilize current tax on professional sports and entertainment.
- Mining and/or Timber Revenue: Redirect a percentage of the state share of mining and timber revenue.
- Veterans Debit/Credit Card: Explore the possibility of creating a debit/credit card for veterans by partnering with an area bank.
- Excise Tax: Redirect a percentage of the tax on the sale of beer and/or liquor.
- Native American Gaming Revenue: Utilize a portion of the Native American gaming revenues.
- Provide GPR base funding to support veterans benefits, administration and grants.
- Conduct a survey of state agencies that could enumerate surplus assets which could be sold to help fund the VTF.
- Conduct a study on establishing a 501(c)(3) foundation.