WI SB988

Wisconsin Department of Financial Institutions required to make $1,000 matching contributions to Trump accounts for eligible children who were born in and reside in Wisconsin

Eligibility requires the account beneficiary to have already received the federal Treasury Department's $1,000 payment under the federal pilot program

Trump accounts are a type of traditional IRA for individuals under 18 with a social security number, with federal contributions available for children born 2025-2028

State contributions limited to available funds and restricted to one contribution per Trump account

Contributions qualify as tax-free "qualified general contributions" under federal law with no annual contribution limits