Establishes New Jersey Baby Bond Account Program.

This bill establishes the New Jersey Baby Bond Account Program, which deposits $2,000 into individual accounts for eligible infants born on or after January 1, 2021. Eligibility is limited to infants born to families with household income not exceeding 200% of the federal poverty level who establish New Jersey residency within six months of birth. The accounts, managed by a Baby Bond Account Board, can be used for post-secondary education, primary home purchase, business capitalization, or other wealth-building investments after age 18, with limited exceptions for education expenses. The program appropriates $70 million from the General Fund to establish the fund and requires economic literacy training for families to help them manage these accounts.