§ 143B-1293 — North Carolina Veterans Home Trust Fund

North Carolina § 143B-1293

• Jurisdiction: North Carolina
• Ch. 143B: Executive Organization Act of 1973
• Art. 14: Department of Military and Veterans Affairs

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(a) Establishment. - A trust fund shall be established in the State treasury, for the Department of Military and Veterans Affairs, to be known as the North Carolina Veterans Home Trust Fund.
(b) Composition. - The trust fund shall consist of all funds and monies received by the Veterans' Affairs Commission or the Department of Military and Veterans Affairs from the United States, any federal agency or institution, and any other source, whether as a grant, appropriation, gift, contribution, devise, or individual reimbursement, for the care and support of veterans who have been admitted to a State veterans home.
(c) Use of Fund. - The trust fund created in subsection (a) of this section shall be used by the Department of Military and Veterans Affairs to do the following:
(1) To pay for the care of veterans in said State veterans homes;
(2) To pay the general operating expenses of the State veterans homes, including the payment of salaries and wages of officials and employees of said homes; and
(3) To remodel, repair, construct, modernize, or add improvements to buildings and facilities at the homes.
(d) Miscellaneous. - The following provisions apply to the trust fund created in subsection (a) of this section:
(1) All funds deposited and all income earned on the investment or reinvestment of such funds shall be credited to the trust fund.
(1a) Of the funds deposited in the trust fund each fiscal year, the Department of Military and Veterans Affairs shall transfer ten percent (10%) of the receipts collected in each fiscal year from the trust fund to the North Carolina Veterans Cemeteries Trust Fund on June 30 of each fiscal year.
(2) Except as provided in subdivision (1a) of this subsection, monies remaining in the trust fund at the end of each fiscal year shall remain on deposit in the State treasury to the credit of the North Carolina Veterans Home Trust Fund.
(3) Nothing contained herein shall prohibit the establishment and utilization of special agency accounts by the Department of Military and Veterans Affairs or by the Veterans' Affairs Commission, for the receipt and disbursement of personal funds of the State veterans homes' residents or for receipt and disbursement of charitable contributions for use by and for residents. (1995, c. 346, s. 1; 2011-284, s. 127; 2015-241, s. 24.1(k), (pp); 2015-268, s. 7.3(a), (b); 2021-180, s. 33.5(b); 2023-134, s. 33.1.)