WA HB1661

Establishes the Washington Future Fund pilot project, a "baby bond" program providing $25,000 grants to eligible participants who were born in Washington, enrolled in Medicaid/CHIP before age 1 and at application time, are Washington residents, and are between ages 18-35

Grants may only be used for three eligible expenditures: higher education/training, purchasing a home in Washington, or creating/purchasing a business in Washington state

Participants will be randomly selected from eligible applicants, with two grants allocated per Accountable Community of Health region and remaining grants distributed proportionally based on regional Apple Health enrollment

Requires participants to complete at least two impact evaluation interviews and participate in financial coaching during the study period, with the University of Washington conducting the evaluation

Final report due to the legislature by June 30, 2027, and grants will not count as assets or income for purposes of state public assistance or financial aid eligibility