Bill > A04065

This bill establishes the New York Baby Opportunity Fund, which deposits $1,000 into an account managed by the state comptroller for eligible children when they are born. The funds can be accessed by the eligible child when they turn 18 and are a current resident of the state, and can be used for qualified expenses such as education costs, the purchase of real estate, or entrepreneurship. The eligible children must be born to parents with an annual household income of less than 500% of the federal poverty level.