AN ACT to create and enact section 37-15-14.1 of the North Dakota Century Code, relating to charging a membership contribution at the soldiers’ home, to creation of a special fund consisting of membership contribution receipts, and stating the purposes of that fund; and to amend and reenact section 21-10-06 of the North Dakota Century Code, relating to the funds invested by the state investment board.
BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF THE STATE OF NORTH DAKOTA:
SECTION 1.) Section 37-15-14.1 of the North Dakota Century Code is hereby created and enacted to read as follows:
37-15-14.1. MEMBERSHIP CONTRIBUTION FOR RESIDENTS OF HOME - CREATION OF SPECIAL FUND.)
The administrative committee on veterans' affairs may establish a membership contribution to be paid by members of the home. The fee shall be based on the adjusted income of each member, but in no case shall it exceed forty-nine percent of the average daily per-member cost. The membership contribution shall be set under a formula determined by the administrative committee and designed to assure dignity and equity in the charge. The administrative committee may, from time to time, reconsider its action establishing a membership contribution, amend or rescind the contribution charge, or re- instate a contribution charge previously rescinded. The commandant shall collect monthly any membership contribution levied.
As used in subsection 1, "adjusted income" means all moneys received from any source, including social security benefits, less amounts received or expended as follows:
Moneys earned by a member through labor performed for the soldiers' home.
Moneys received as service-connected compensation.
Moneys earned during authorized leaves or furloughs from the soldiers’ home.
Moneys expended by the member for hospitalization due to illness or injury.
Moneys expended by the member for other medical e. care or treatment, or for required medicines.
Such other receipts or expenditures as the ad- ministrative committee may permit to be deducted in individual cases.
All moneys received as a result of charging the membership contribution authorized by subsection 1 of this section shall be deposited in a special fund in the state treasury to be known as the "soldiers' home improvement fund" : The fund shall be invested by the state investment board in the manner provided in chapter 21-10 , and all income received, less amounts deducted pursuant to section 21-10-10 , shall be de- posited in, or reinvested for the benefit of , the soldiers' home improvement fund. Moneys in the soldiers' home improvement fund shall, subject to and following legislative appropriations, be expended only for expansion of present facilities of the home, for development of new facilities, for enrichment of living conditions, or for additional care for members of the home, as such expansion, development, enrichment, or additional care is deemed necessary by the administrative committee. All moneys expended from the soldiers' home improvement fund shall be paid out on vouchers prepared by the secretary of the administrative committee on veterans' affairs. The department of accounts and purchases shall prepare the warrant-checks.
SECTION 2. AMENDMENT.) Section 21-10-06 of the North Dakota Century Code is hereby amended and reenacted to read as follows:
21-10-06. FUNDS UNDER MANAGEMENT OF BOARD - ACCOUNTS.) The board shall be charged with the investment of the following funds:
State bonding fund.
Teachers' fund for retirement, in accordance with section 15-39.1-26.
State fire and tornado fund.
Workmen' s compensation fund.
Highway patrolmen' s retirement fund; and
Soldiers' home improvement fund, in accordance with section 37-15-14.1.
Separate accounts shall be maintained for each of the above funds and the moneys or securities of the individual funds shall However, when it is deemed advantageous in not be commingled. The purchase, sale, or exchange of securities, securities belonging to one or more of the funds or the Bank of North Dakota may be purchased, sold, or exchanged as part of a single transaction the event of such sale, the respective funds shall immediately be credited with their proportionate share of the proceeds. In the event of such purchase or exchange, title to the securities shall be taken in the name of the individual funds, proportionate to their share of the total purchase price.
The board of university and school lands shall consult with the state investment board or the director thereof on investment policies, and the board of university and school lands may delegate authority to the state investment board or the investment director to make such purchases, sales, or exchanges on its behalf.