HI HCR44

Requests the Department of Human Services to convene a working group to develop recommendations for a baby bonds program designed to reduce intergenerational poverty and wealth inequality in Hawaii.

Working group composition includes the Director of Human Services (chair), Directors of Taxation and Finance, CEO of Office of Hawaiian Affairs, one Senate member, one House member, University of Hawaii Economic Research Organization executive director, and representatives from nonprofit organizations specializing in public health, anti-poverty policies, and child advocacy.

Working group must develop program recommendations, suggest eligibility criteria, coordinate with other stakeholders and agencies, and analyze Connecticut's baby bonds program to identify beneficial aspects for Hawaii adoption.

Connecticut's baby bonds program (first state program in 2021) sets aside funds for babies born into poverty covered by Medicaid, with funds held and invested by the state treasurer until children reach adulthood for use in home purchase, education, job training, business startup, or retirement savings.

Working group must submit findings, recommendations, and any proposed legislation to the Legislature no later than twenty days before the 2025 Regular Session convenes.