summary
Introduced
01/11/2022
01/11/2022
In Committee
01/11/2022
01/11/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Establishes New Jersey Baby Bond Account Program.
AI Summary
This bill establishes the New Jersey Baby Bond Account Program, which will provide a $2,000 deposit into an individual account for each eligible individual born in New Jersey on or after January 1, 2021 from a household with an annual income not exceeding 200% of the federal poverty level. The accounts will be managed by the Baby Bond Account Board and can be used by the account holders for various purposes such as post-secondary education, home purchases, business capitalization, and other long-term investments when they reach the age of 18. The bill also outlines the program's administration, investment policies, and tax implications.
Committee Categories
Education
Sponsors (5)
Bill Moen (D)*,
Verlina Reynolds-Jackson (D)*,
Benjie Wimberly (D)*,
Thomas Giblin (D),
Shavonda Sumter (D),
Last Action
Introduced, Referred to Assembly Women and Children Committee (on 01/11/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A1579 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A2000/1579_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A2000/1579_I1.PDF |
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