Bill > HB4750

This bill establishes comprehensive guidelines for how the Michigan Department of Health and Human Services must manage benefits received by children in foster care. Within 60 days of a child entering foster care, the department must screen and apply for all potential benefits the child may be eligible to receive. When serving as a representative payee for these benefits (which can include Supplemental Security Income, Social Security, Veterans Affairs benefits, and other applicable benefits), the department must prioritize the child's best interests by using or conserving the funds in specific ways. These include: (1) not using the benefits to reimburse the state for foster care costs, (2) conserving an increasing percentage of benefits as the child ages (40% at ages 14-15, 80% at ages 16-17, and 100% at ages 18-20), and (3) exploring options like establishing special needs trusts, PASS accounts, or individual development accounts to protect the child's financial future. The bill also mandates that the department provide annual financial accountings to the child and their attorney, and requires comprehensive financial literacy training for foster children starting at age 14, covering topics like budgeting, credit management, insurance, investing, and career planning. The goal is to ensure that foster children's financial resources are protected and they receive education to support their long-term financial stability.

Housing and Urban Affairs, Military Affairs and Security

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4750