MN SF4157

Appropriates $1,000,000 from the general fund to the Department of Education for fiscal year 2023 as a matching grant to the Saint Paul and Minnesota Foundation.

Requires the grant to fund a children's asset building program that creates savings accounts for every child born to St. Paul residents during the funding period and provides financial education on college and career pathways.

Grant funds must be matched with money from nonstate sources.

Saint Paul and Minnesota Foundation must submit a report by February 15, 2025 to the commissioner of education and relevant legislative committees detailing program design, outcomes, funding, financial education activities, and marketing and outreach efforts.

Appropriation is a onetime allocation available until June 30, 2025.