A bill to create the baby bond trust account program; to prescribe the powers and duties of certain state officials and departments; to allow for the promulgation of rules; and to provide for an appropriation.
The Baby Bond Trust Account Program in Michigan aims to provide financial support for newborns through a $3,200 account, accessible for specific expenditures, with funds reverting to the state if unclaimed by age 30, and requires legislative funding and related bill enactments to take effect.
Co-sponsored by Reps.
Referred to the Committee on Appropriations
