MA H48

Creates a Massachusetts Baby Bonds Trust Fund for children born on or after July 1, 2026 who receive TANF cash assistance or are in DCF care within their first 12 months of life

Beneficiaries can claim their pro rata share of the fund between ages 18 and 35 for eligible expenses including post-secondary education at Massachusetts institutions, starting a business, purchasing a home, or other wealth-building investments

State Treasurer administers the fund and may accept public and private contributions; fund balances do not revert to the General Fund and are protected from appropriation

Establishes a 17-member Advisory Board (11 voting, 6 non-voting) and a Community Advisory Committee to guide policy, identify eligible expenditures, and prevent fraud

Fund assets do not count toward eligibility for TANF or need-based institutional aid, and contributions are excluded from state gross income calculations; unclaimed funds after age 35 or upon death revert to the fund