Bill
Bill > HF2864
MN HF2864
MN HF2864Statewide children's savings account program for higher education and business training established, local partner start-up and expansion grants established, report required, and money appropriated.
summary
Introduced
03/13/2023
03/13/2023
In Committee
03/13/2023
03/13/2023
Crossed Over
Passed
Dead
05/20/2024
05/20/2024
Introduced Session
93rd Legislature 2023-2024
Bill Summary
A bill for an act relating to education; establishing a statewide children's savings account program for higher education and business training; establishing local partner start-up and expansion grants; requiring a report; appropriating money; proposing coding for new law as Minnesota Statutes, chapter 119C.
AI Summary
This bill establishes the Minnesota Kids Investment and Development Savings (MinneKIDS) program, which provides seed deposits of $50 to $100 for eligible children born on or after July 1, 2024 who are Minnesota residents at the time of kindergarten entry, with higher deposits for children from low-income households. The program allows participants to make additional contributions to the children's accounts, which can be used for qualified higher education expenses or business education programs. The bill also creates a grant program to help start up and expand local children's savings account programs across the state, and appropriates funding for the MinneKIDS program and grants.
Committee Categories
Education
Sponsors (4)
Last Action
Hearing (08:30:00 3/23/2023 ) (on 03/23/2023)
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.revisor.mn.gov/bills/bill.php?b=House&f=HF2864&ssn=0&y=2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF2864&version=0&session=ls93&session_year=2023&session_number=0&format=pdf |
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