Bill > HB324

This bill establishes a Wealth Building Working Group within Hawaii's Department of Human Services to develop a comprehensive plan for a baby bonds program aimed at reducing intergenerational poverty and wealth inequality. The working group, consisting of key government officials, legislators, and nonprofit representatives, will research and recommend eligibility criteria, analyze existing asset-building programs like Connecticut's baby bonds initiative, and estimate the potential costs of implementing such a program in Hawaii. The group's motivation stems from Hawaii's high cost of living and systemic economic inequalities that disproportionately affect communities of color, with the goal of creating a program that would provide financial resources to children born into low-income families. Specifically, the working group will coordinate with stakeholders, study successful models like Connecticut's program, and submit a detailed report with findings and proposed legislation to the legislature by late 2025. The working group will be temporary, disbanding on July 1, 2026, after completing its research and recommendations, with members serving without compensation but receiving expense reimbursements.

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=324&year=2025