NY A04065

Establishes the "Excelsior Opportunity Fund" within the Department of Financial Services to create individual "EO accounts" for eligible children born after December 31, 2025, who are under 18, reside in New York State, and have household income not exceeding 700% of the federal poverty line.

Provides initial contributions of $1,000 to each account upon certification, followed by annual contributions of $500 per year until the account holder turns 18, funded by transfers from the stock transfer tax fund.

Restricts fund distributions until account holders reach their 18th birthday; accounts are exempt from taxation and disregarded when determining eligibility for state benefits.

Requires the fund to invest in 30-year U.S. government debt obligations and establishes a seven-member board appointed by the Governor, Senate President, and Assembly Speaker to oversee fund administration and develop financial literacy programs.

Modifies the stock transfer tax fund structure to redirect revenues to the Excelsior Opportunity Fund beginning October 1, 2025, and reduces stock transfer tax rebates from 100% to 50% for transactions occurring on or after that date.