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. The goal is to help these individuals pursue opportunities for education, housing, and entrepreneurship, ultimately aiming to reduce wealth inequality. The program would be managed by the State Treasurer and would target specific beneficiaries based on need.
Key provisions
- Establish a Baby Bonds trust fund.
- Provide financial assistance to designated beneficiaries.
- Support education, housing, and entrepreneurship opportunities.
- The State Treasurer will manage the trust fund.
- The program aims to address wealth inequality.
- The bill directs the State Treasurer to establish the fund.
Who is affected
- Massachusetts residents
- Low-income individuals
- Future generations
- Families with young children
Notable changes
- Introduces a new state-funded program to promote economic opportunity.
- Potentially reduces wealth inequality by providing early financial support.
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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