An Act establishing a Massachusetts Baby Bonds program
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes to create a Massachusetts Baby Bonds program, which would establish a trust fund to provide financial assistance to eligible residents as they pursue education, housing, or starting a business. The program aims to help close the racial wealth gap by giving families a head start. Funds would be allocated to designated beneficiaries, potentially starting at birth, to support these opportunities.
Key provisions
- Establish a Baby Bonds trust fund.
- Provide financial assistance to eligible beneficiaries.
- Support education, housing, and entrepreneurship opportunities.
- Target assistance to designated beneficiaries.
- The State Treasurer will administer the trust fund.
Who is affected
- Massachusetts residents
- Families with young children
- Beneficiaries of the Baby Bonds program
Notable changes
- Aims to address the racial wealth gap.
- Provides early-stage financial support for future opportunities.
Bill text
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Sponsors
Official sponsors from legislative records.
10 on record
Primary sponsor
Andres X. Vargas
Cosponsors
Andres X. Vargas
James B. Eldridge
Arguments
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