Establishes a trust for foster children receiving Supplemental Security Income benefits in Minnesota.

The bill establishes the foster children assistance trust for children in foster care who receive Supplemental Security Income benefits. Financially responsible agencies must apply to be the payee for these children and remit all benefit payments to the commissioner of children, youth, and families. The commissioner must keep records of receipts and disbursements, determine annual interest earnings, and apportion capital gains to beneficiaries' accounts. Once beneficiaries turn 18, the commissioner disburses $10,000 annually until the account is depleted.

Establishes a trust for foster children receiving Supplemental Security Income benefits in Minnesota.

The bill establishes the foster children assistance trust for children in foster care who receive Supplemental Security Income benefits. Financially responsible agencies must apply to be the payee for these children and remit all benefit payments to the commissioner of children, youth, and families. The commissioner must keep records of receipts and disbursements, determine annual interest earnings, and apportion capital gains to beneficiaries' accounts. Once beneficiaries turn 18, the commissioner disburses $10,000 annually until the account is depleted.