GA HB284

Creates the Georgia Baby Bond Savings Plan, a state-administered savings trust program for Georgia residents under age 18, with automatic enrollment for children born on or after July 1, 2025

Establishes a board of directors chaired by the Governor, including the state auditor, Office of Planning and Budget director, state revenue commissioner, three gubernatorial appointees, and the state treasurer as administrative officer

Requires the General Assembly to provide initial contributions of at least $250 per account ($1,000 for families receiving Medicaid, TANF, or SNAP), plus recurring annual contributions of at least $250 ($500 for low-income families) until the beneficiary turns 18

Permits qualified withdrawals for higher education, career/technical education, home ownership, expenses after age 59½, and other board-approved investments in financial assets or personal capital

Contributions are exempt from state taxation, and account funds are excluded from asset calculations for need-based aid eligibility