Delaware Senate Bill 243 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on March 10 2022 - 25% progression, died in committee
Action: 2022-03-10 - Introduced and Assigned to Elections & Government Affairs Committee in Senate
Pending: Senate Elections & Government Affairs Committee
Text: Latest bill text (Draft #1) [HTML]

This Act establishes the Baby Bond Account Fund (Fund) to deposit $2,000 in an account for an individual born on or after January 1, 2022, into a household with an annual household income that does not exceed 200% of the federal poverty level. The Plans Management Board, established under § 2722 of Title 29, is to then invest and otherwise administer the money in the individual accounts in the Fund. Once the individual turns 18 years old, the individual may request a distribution from the individuals account for certain qualified expenses. The money in the individuals account is excluded from the individuals federal adjusted gross income for purposes of state taxation.

An Act To Amend Title 29, Title 30, And Title 31 Of The Delaware Code Relating To The Baby Bond Account Fund.

Sen. Darius Brown [D]	Rep. Stephanie Bolden [D]	Rep. Sherry Dorsey Walker [D]	Rep. Kendra Johnson [D]
Sen. Kyle Gay [D]

Date	Chamber	Action
2022-03-10		Introduced and Assigned to Elections & Government Affairs Committee in Senate

Type	Source
Summary	https://legis.delaware.gov/BillDetail?LegislationId=79215
Text	https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=79215&legislationTypeId=1&docTypeId=2&legislationName=SB243