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Legislative Year: 2024 Change

Bill Detail: HB24-1297

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Title Baby Bonds Program Study
Status House Committee on Finance Refer Amended to Appropriations (04/04/2024)
Bill Subjects
  • State Government
House Sponsors J. Willford (D)
L. Garcia (D)
Senate Sponsors J. Coleman (D)
House Committee Finance
Senate Committee
Date Introduced 02/14/2024

The bill directs the state treasurer to conduct a study to evaluate
the feasibility of and to make recommendations regarding the creation of
a baby bonds program (program), through which the state deposits a
specified amount of money into a public trust account and the money is
invested by the state treasurer for an eligible child, who may use the
money and its earnings for certain eligible uses upon turning 18 years of
age. The study must:
  • Assess the distribution of wealth in the state;
  • Assess the landscape of existing public assistance
opportunities for wealth building for:
  • Individuals whose family income does not exceed
195% of the federal poverty line, adjusted for family
size; and
  • Individuals belonging to groups who have
historically been denied access to wealth-building
opportunities or who have experienced wealth
stripping and exploitation, which has led to a lack of
intergenerational wealth, including individuals who
are Black, Indigenous, and people of color;
  • Examine and evaluate the feasibility of creating the
program in the state;
  • Examine investment options for the program;
  • Determine how the creation of the program could address
the racial wealth gap in the state; and
  • Examine any other area related to a baby bonds program
that is deemed appropriate by the state treasurer or a
third-party entity conducting the study, including any pilot
project of related programs performed in the state.
The state treasurer may enter into an agreement with a third-party
entity to conduct all or part of the study. At the conclusion of the study
and not later than April 15, 2025, the state treasurer is required to submit
a report of its findings and make recommendations to the general

Committee Reports
with Amendments
Full Text
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Fiscal Notes Fiscal Notes (03/12/2024) (most recent)  
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