MN SF3120

Establishes the Minnesota Kids Investment and Development Scholarship (MinneKIDS) program, creating automatic savings accounts for children born on or after July 1, 2026, in Stearns, Wright, Sherburne, Rice, or Benton counties, or in Ramsey/Hennepin counties if the biological mother qualifies for Medical Assistance

Commissioner must create MinneKIDS accounts within 90 days of receiving birth data and notify parents annually about the account, opt-out procedures, and how to link accounts to Minnesota 529 college savings plans

Funds remain state-owned until used for qualified higher education expenses at eligible institutions, and unused funds are forfeited if not used by age 26

Creates a pilot grant program awarding $100,000 each to three entities (urban, rural, and Tribal/American Indian community) by June 30, 2027, for outreach, marketing, and culturally responsive financial education

Appropriates $300,000 in fiscal year 2027 for pilot program grants, with the main MinneKIDS program effective August 1, 2028, and requires implementation reports to the legislature by February 15, 2028