Bill > A11074

This bill establishes the New York Baby Opportunity Fund, which will deposit $1,000 into an account managed by the state comptroller for eligible children (those born after the effective date of the law to parents who are state residents with an annual household income less than 500% of the federal poverty level). The funds can only be accessed by the eligible child when they reach 18 years old and are a current state resident, and can be used for qualified expenses such as education, home ownership, or entrepreneurship. The bill also outlines the administration of the fund by the state comptroller and the Department of Health.