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Senate committee advances bill to raise Veterans Aid Fund loan limit to $8,000
Summary
The North Dakota Senate Agriculture and Veterans Affairs Committee voted to give House Bill 11-35 a “do pass” recommendation to raise the maximum loan from the Veterans Aid Fund to $8,000; supporters said the increase will restore purchasing power lost to inflation and the fund is a revolving loan program.
The Senate Agriculture and Veterans Affairs Committee on Thursday recommended a “do pass” on House Bill 11-35, a bill that would raise the maximum loan available from the state Veterans Aid Fund to $8,000.
Representative Brandy Pyle, R-District 22, introduced the bill, saying the fund “serves as a revolving loan fund providing financial assistance to veterans [and] surviving spouses who have not remarried,” and noting the fund’s authorization has not been updated in more than two decades. “Given this long period of time without adjustment, I believe it is both reasonable and necessary to make a small increase in this loan authorization,” Pyle said.
The…
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