Capitol Report


For Immediate Release - August 8, 2003
Contact: Senator Anita Yeckel - (573) 751-2887

NEW LAW WILL INSURE THAT THE VETERANS' COMMISSION FUND REMAINS SOLVENT

JEFFERSON CITY -- The men and women who serve our country in the armed forces willingly put their lives on the line and I have always believed that as a state, and a nation, we are indebted to them for the lives we lead in this land of the free. Since my election to the Missouri Senate in 1996, I have dedicated myself to improving conditions for the veterans of this state. I'm proud to report that this session we were successful in passing a bill that will alter the distribution of the gaming commission fund so that more money will go toward veterans.

As many of you may already know, a $2 boarding fee is charged at all casinos in the state. Half of that money goes to the Gaming Commission Fund. This fund is used for the operation of the Gaming Commission, with the remaining money distributed between the Veterans Commission Capital Improvement Fund, Early Childhood Education Fund, Missouri National Guard Scholarship Trust Fund, Missouri College Guarantee Fund and the Compulsive Gambler's Trust Fund.

Rep. Jack Jackson and I worked together to guarantee additional money for the Veterans' Commission. At the present time, $3 million is transferred annually from the Gaming Commission Fund to the Veterans' Commission Capital Improvement Trust Fund. I served as the Senate sponsor for House Bill 444 which allocates an additional $3 million to Veterans' Commission Capital Improvement Trust Fund should the remaining net proceeds of the Gaming Commission fund exceed $28 million.

These funds are crucial for the veterans of this state. The Veterans Commission uses this money to operate the state's veterans' nursing homes; maintenance and repair of veterans' facilities; and provides funding for veterans' memorials including the Liberty Memorial in Kansas City.

This fund faced insolvency in 2006 if it continued to receive its current funding. The Veterans' Commission has been good stewards of these funds, and the work they do is important to the veterans of this state.

In addition, changes are made to the manner in which the Gaming Commission Fund is distributed. Presently the remaining net proceeds of the Gaming Commission Fund are distributed concurrently to the Veterans' Commission Capital Improvement Fund, the Missouri National Guard Trust Fund and the Missouri College Guarantee Trust Fund. Under HB 444, the Missouri College Guarantee Fund will receive the first portion of the distribution, the Veterans' Commission Capital Improvement Trust Fund will receive the second portion of the distribution and the Missouri National Guard Trust Fund will receive the final portion of the distribution.

Having been signed by the governor, HB 444 will become law on Aug. 28.

NOTE: This is a regular Capitol Report. Please forward this to your friends and business associates who may be interested in receiving this report directly. All you need to do to receive this Capitol Report is send an e-mail to cjackson@senate.mo.gov.