Legislative Session number- 81

Bill Name: SF0662

Providing for state investment in children; requiring the commissioner of health
to notify the state board of investment of births in the state and the executive
director of the board upon receipt of the notices to deposit a certain amount of
money in a trust account to be established for each child, providing for certain
additional later deposits; requiring the board to contract with financial
institutions to maintain the accounts; restricting use of money in the accounts
for post-secondary education expenses, for the purchase of a first principal
residence or to pay for health care costs; requiring forfeiture to the state of
money remaining in the accounts upon reaching a certain age; providing an income
tax subtraction for earnings on the accounts (rla)