Bill > HB1661

This bill establishes the Washington Future Fund Pilot Project, a program designed to address intergenerational poverty by providing $25,000 grants to eligible participants who were enrolled in Medicaid from birth and remain enrolled. The pilot project targets Washington residents between 18 and 36 years old who were born in the state and continuously enrolled in medical assistance programs. Participants can use the grant for three specific purposes: pursuing higher education, purchasing a home in Washington state, or creating or purchasing a business within the state. The project will randomly select participants across different regions, with grant allocations proportional to each region's Medicaid enrollment. Participants are required to engage in financial coaching and participate in evaluation interviews. The Office of the State Treasurer will manage the project, and the University of Washington will assist in designing, implementing, and evaluating the pilot's impact on economic stability. The goal is to provide seed capital that can help interrupt the cycle of poverty by giving individuals an opportunity to invest in their education, home ownership, or entrepreneurship. A final report on the pilot project will be submitted to the legislature by June 30, 2027, to assess its effectiveness in addressing economic inequities.

Education

https://app.leg.wa.gov/billsummary?BillNumber=1661&Year=2025&Initiative=false