BILL NUMBER: AB 1488INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Obernolte FEBRUARY 27, 2015 An act to amend Section 1049 of the Military and Veterans Code, relating to veterans. LEGISLATIVE COUNSEL'S DIGEST AB 1488, as introduced, Obernolte. Veterans: Morale, Welfare, and Recreation Fund. Existing law provides for the establishment of veterans' homes and requires the administrator of a veterans' home to maintain a Morale, Welfare, and Recreation Fund to be used, subject to the approval of the Secretary of Veterans Affairs, to provide certain operations and activities relating to the general welfare of the veterans, as provided. Moneys in the Morale, Welfare, and Recreation Fund may be used to establish or operate a Veterans' Home Exchange that may conduct any lawful endeavor that, in the judgment of the administrator, will benefit the veterans, except as prohibited. This bill would make technical, nonsubstantive changes to that provision. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 1049 of the Military and Veterans Code is amended to read: 1049. Moneys in the Morale, Welfare, and Recreation Fund maintained under subdivision (a) of Section 1047 may be used to establish or operate a Veterans' Home Exchange that may conduct any lawful endeavorwhich,that, in the judgment of the administrator,will benefitbenefits the veterans, except as prohibited under subdivision (b) of Section 1047. The administrator may establish the Veterans' Home Exchange to operate at a profit.