Bill > HM64

This Memorial requests the Office of the State Auditor to establish a "Prosperity Kids Working Group" to explore ways to expand the "Prosperity Kids" program statewide. Prosperity Kids is a child savings account (CSA) program, which partners with financial institutions to help young people and their families save money and develop financial literacy skills. These accounts can be used for post-secondary education or for a stable transition into adulthood. The program currently provides initial funding and matches family deposits, and research shows CSAs significantly benefit children's development and educational attainment. The working group, composed of financial experts and legislators, will investigate partnership opportunities and potential funding sources, including the possibility of a fee on financial product licenses, to support the statewide expansion of this beneficial program.