CA AB2508

Commencing with the 2025–26 fiscal year, foster youth enrolled in grades 1–12 shall have a KIDS Account opened and receive a one-time enhanced deposit of $500, subject to legislative appropriation.

Foster youth who did not receive enhanced deposits in the 2021–22 fiscal year or as first graders in 2022–23 and later shall receive an additional $500 enhanced deposit.

Foster youth may only receive enhanced deposits once under these provisions; subsequent fiscal years are ineligible for additional deposits.

These new enhanced deposit provisions for foster youth become inoperative on January 1, 2029.

The Scholarshare Investment Board must collaborate with the State Department of Education to identify eligible foster youth pupils and establish or enhance KIDS Accounts while complying with federal and state privacy laws.