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CT HB05741

Bill

Official Source

Status

Introduced

1/28/2021

Primary Sponsor

Quentin Williams

Click for details

Origin

House of Representatives

2021 General Assembly

AI Summary

  • Establishes a program requiring $3,600 to be invested on behalf of each child born in Connecticut on or after January 1, 2031.

  • Funds are held in trust until the beneficiary reaches age 64, at which point they become accessible.

  • Beneficiaries may use funds for retirement income, purchasing a primary residence in the state, paying off educational debts, or paying in-state tuition.

  • Beneficiaries must maintain a primary residence in Connecticut to access the funds.

Legislative Description

An Act Establishing A Program To Provide Financial Support To Retirement-age Residents.

Last Action

Referred to Joint Committee on Aging

1/28/2021

Committee Referrals

Select Committee on Aging1/28/2021

Full Bill Text

No bill text available