HI SCR39

Department of Human Services requested to convene a working group to consider creation of a baby bonds program for Hawaii to address intergenerational poverty.

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

Working group tasked with developing recommendations for baby bonds program eligibility criteria, analyzing Connecticut's baby bonds program, and coordinating with other stakeholders working on intergenerational poverty reduction.

Connecticut's baby bonds program, enacted in 2021, sets aside funds for babies born to Medicaid-covered births, which are managed by the state treasurer and accessible by participants at adulthood for homebuying, education, business startup, or retirement savings.

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