Bill > HF3211

This bill establishes a trust for foster children who receive Supplemental Security Income (SSI) benefits. The key provisions are: 1. Financially responsible agencies must apply to be the payee for SSI benefits of children in foster care and remit those benefits to the commissioner of human services, who will deposit them into the foster children SSI trust. 2. The trust will be managed to ensure stability and growth, with separate accounts maintained for each beneficiary. The commissioner will apportion any annual capital gains to the beneficiaries' accounts. 3. Once a beneficiary turns 18, the commissioner will disburse $10,000 per year from their account until it is depleted. The commissioner will also provide information about potential tax and benefits consequences of the disbursements. 4. The commissioner is required to submit annual reports to the legislature on the cost of reimbursing agencies and the potential impacts of the trust on beneficiaries' taxes and government benefits. 5. The bill appropriates funds from the general fund to the commissioner to reimburse agencies for the SSI benefits they send to the trust.