Bill > HF588

This bill establishes a new trust for foster children who receive Supplemental Security Income (SSI) benefits, creating a comprehensive system to manage and protect these funds. Under the new law, financially responsible agencies must assess foster children's SSI eligibility and, if eligible, apply to be the payee for these benefits. Within 90 days of receiving benefits, agencies must remit all payments to the commissioner of children, youth, and families, who will deposit these funds into a dedicated foster children assistance trust. The trust will maintain separate accounts for each beneficiary and track their funds. Once a beneficiary turns 18, they will receive annual disbursements of $10,000 from their trust account until the funds are depleted. The bill requires agencies to notify beneficiaries about the trust and potential tax implications, and mandates that the commissioner submit annual reports to legislative committees about the trust's financial impacts and administrative costs. The trust is designed to be managed separately from the state's general fund, with assets protected from creditors and held exclusively for the benefit of foster children. Additionally, the bill appropriates funds to reimburse agencies for the SSI benefits they send to the commissioner, ensuring financial support for the program's implementation.

Education

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0588&ssn=0&y=2025