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RI S2843

Bill

Official Source

Status

Introduced

3/4/2026

Primary Sponsor

Melissa Murray

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Redirects unclaimed property funds to provide a one-time $3,000 allocation to the Rhode Island baby bond trust for each designated beneficiary born in the preceding calendar year
  • Beneficiaries are defined under existing state law (§ 35-24-1) governing the baby bond program
  • Remaining unclaimed property funds after baby bond allocations would continue to be deposited in the state's general fund
  • Administrator must retain at least $100,000 in a separate account for payment of claims on unclaimed property
  • Effective date: July 1, 2027

Legislative Description

Funds the Rhode Island baby bonds trust program without the use of taxpayer dollars through an annual allocation of unclaimed property remittances.

Probate Practice And Procedure

Last Action

Introduced, referred to Senate Finance

3/4/2026

Committee Referrals

Finance3/4/2026

Full Bill Text

No bill text available