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Veterans Postwar Trust Fund

History

Vietnam Adjusted Compensation Fund

  • The 1971 Legislative Assembly authorized the issuance of up to $15 million of general obligation bonds to provide funds for the payment of adjusted compensation to North Dakota Vietnam Veterans and the resulting administrative expenses (HB 1492). 
  • The 1973 Legislative Assembly approved the issuance of an additional $4 million of bonds (SB 2415).

Veteran's Postwar Trust Fund

  • The 1981 Legislative Assembly established the Veterans' Postwar Trust Fund with a transfer of $3,984,531 - the remaining monies from the Vietnam Adjusted Compensation Fund. An additional $616,365 was transferred from the remaining funds of the Vietnam Bond sinking fund in 1985. These transfers accounted for around 11% of the original fund balance while only 32% was actually used towards payments of Vietnam Bonuses. The remaining 57% of the original funds was used for non-veteran related programs or was transferred back to the general fund when the fund was closed out following the 1985 legislative session.
  • The Trust Fund was set up to be invested by the State Treasurer and the income received was to be utilized in benefit and service to veterans or their dependents (SB 2271). During the 1983 Legislative Assembly, $1,369,045 was allocated for the operation of the Veterans Home and the Department of Veterans Affairs, and in 1985, $629,036 was allocated towards them.
    • Measure No. 4 (Approved by Voters in 1988)

      • Established the Postwar Trust Fund as a "permanent fund"
      • The balance of the fund would be restored to $3.7 million over 5 years
      • Interest income from the fund would be appropriated on a continuing basis to the Administrative Committee on Veterans Affairs to be spent for veterans' programs as authorized by law.

Receipts and Expenditures:

Receipts
1993 HB 1001: Transfer from general fund  $745,670
1991 SB 2001: Transfer from general fund $1,569,335
1989 SB 2009: Transfer from general fund $2,960,000
1985 SB 2341: Transfer from Vietnam bond sinking fund $616,365
1981 SB 2371: Transfer from Vietnam adjusted compensation fund $3,984,531

 

 

 

 

 

 

 

Expenditures
1981 SB 2001: Veterans Home $734,330
1990 SB 2009: Veterans Home $274,000
1983 SB 2014: Veterans Home $1,050,000
1979 SB 2023: Adjutant General - capital improvements carryover $491,926
1995 SB 2475: Adjutant General - Veterans' compensation $60,000
1987 HB 1009: Veterans Home $1,343,384
1985 HB 1012: Veterans Home $267,620
1983 HB 1014: Veterans Affairs $319,045