An act relating to establishing a baby bond trust program

This bill establishes the Vermont Baby Bond Trust, a state-administered fund designed to provide financial support to children born on or after July 1, 2024, who qualify for Medicaid or similar health coverage at birth. The program would allow eligible children to receive bonds that can be used for education, purchasing a home, starting a business, or contributing to retirement accounts once they reach adulthood. The trust would be managed by the State Treasurer, who would invest the funds to generate earnings while keeping the assets separate from general state funds and exempt from state taxes. Money in the trust would only be disbursed for approved purposes and would not count as income or assets when determining eligibility for other assistance programs.