Bill > HB324

This bill establishes a Wealth Building Working Group within Hawaii's Department of Human Services to develop recommendations for a baby bonds program aimed at reducing intergenerational poverty and wealth inequality. The working group, composed of government officials, legislators, and representatives from nonprofit organizations, will research and analyze potential program designs, drawing inspiration from Connecticut's existing baby bonds initiative. Specifically, the group will develop eligibility criteria, coordinate with stakeholders, study existing asset-building programs like individual development accounts and college savings plans, and estimate the costs of implementing a state-facilitated baby bonds program. The working group will be required to submit a comprehensive report with findings and recommendations to the legislature by December 2025, and will officially dissolve on July 1, 2026. The bill acknowledges Hawaii's high cost of living and the disproportionate economic challenges faced by communities of color, positioning the baby bonds program as a potential strategy to help families build wealth and overcome systemic economic barriers. Members of the working group will serve without compensation but will be reimbursed for expenses related to their work.

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=324&year=2026