HB 24-1297: Baby Bonds Program Study

• Directs the state treasurer to conduct or contract for a feasibility study on creating a "baby bonds" program, in which the state deposits money into trust accounts for eligible children to access upon turning 18 years old.

• Study must assess state wealth distribution, evaluate existing public assistance programs for low-income individuals (those at or below 195% of federal poverty line) and historically disadvantaged groups including Black, Indigenous, and people of color communities.

• Study must examine investment options, program feasibility, and how the program could address Colorado's racial wealth gap, including consideration of automatic enrollment for children covered by Medicaid at birth.

• State treasurer must submit a comprehensive report to the legislature's finance committees by April 15, 2025, including methodologies, findings, and recommendations on eligibility guidelines, funding sources, investment mechanisms, eligible uses, and necessary legislation.

• State treasurer may seek gifts, grants, and donations from public and private sources to fund the study; the statutory authorization for this study repeals effective July 1, 2025.