HI HR33

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 membership includes the Director of Human Services (as chair), Directors of Taxation and Finance, CEO of the Office of Hawaiian Affairs, one Senate member, one House member, University of Hawaii Economic Research Organization director, and representatives from nonprofits specializing in public health, anti-poverty policies, and children's advocacy.

Working group tasks include developing program recommendations and eligibility criteria, analyzing Connecticut's baby bonds program (the first state program enacted in 2021), and coordinating with other stakeholders working on similar initiatives.

Requires the working group to submit findings, recommendations, and any proposed legislation to the Legislature no later than 20 days before the 2025 Regular Session convenes.

Background notes Connecticut's baby bonds program sets aside funds for babies born into Medicaid-covered births, with funds usable for home purchases, higher education, job training, business startup, or retirement when children reach adulthood.