HI HB324

Establishes a Wealth Building Working Group within the Department of Human Services to develop recommendations for a baby bonds program to reduce intergenerational poverty and wealth inequality in Hawaii

Working group must analyze Connecticut's baby bonds program (the first state program, started 2021) and existing Hawaii asset-building programs like individual development accounts and the HI529 college savings plan

Working group membership includes the directors of Human Services and Finance, Hawaii State Commission on the Status of Women, one senator, one representative, and nonprofit representatives focused on children and low-income advocacy

Working group must estimate program costs, suggest eligibility criteria, and submit findings and proposed legislation to the legislature no later than 20 days before the 2026 regular session

Working group ceases to exist July 1, 2026; bill has placeholder effective date of July 1, 3000 (indicating further legislative action needed)