Iowa SF481 establishes accounts for children in foster care to hold benefits and appropriates funds for foster care costs.

Iowa SF481 mandates the Department of Health and Human Services to create interest-bearing accounts for children in foster care who receive benefits. These accounts must be held at reputable banks or savings associations, and the funds are to be released to the child upon reaching 18 years of age. The bill also appropriates $1.2 million for fiscal years 2025-2026 to cover foster care costs for children receiving benefits.

Iowa SF481 establishes accounts for children in foster care to hold benefits and appropriates funds for foster care costs.

Iowa SF481 mandates the Department of Health and Human Services to create interest-bearing accounts for children in foster care who receive benefits. These accounts must be held at reputable banks or savings associations, and the funds are to be released to the child upon reaching 18 years of age. The bill also appropriates $1.2 million for fiscal years 2025-2026 to cover foster care costs for children receiving benefits.