MI HB5911

Establishes a special instant lottery game for Michigan veterans, to commence on January 1, 2011 or as soon thereafter as practical, governed by the McCauley-Traxler-Law-Bowman-McNeely lottery act.

Creates the veterans assistance fund within state treasury to receive net revenue from the veterans lottery game after prize payments and operational expenses.

Allocates fund revenues for grants, services, and research projects related to veterans' post-traumatic stress disorder, homelessness, health insurance costs, disability benefits, and long-term care.

Limits veterans' health insurance costs to no more than 20% of appropriated funds beginning in fiscal year 2013.

Establishes a three-member veterans assistance fund advisory committee, appointed by the department of military and veterans affairs, to oversee fund expenditures beginning in fiscal year 2013.