Establishes New Jersey Baby Bond Account Program to credit eligible infants with $2,000.

The New Jersey Baby Bond Account Program Act establishes the New Jersey Baby Bond Account Program and Baby Bond Account Fund in the Department of the Treasury. The program credits each eligible individual with a $2,000 deposit into an individual account. Eligible individuals are infants born on or after January 1, 2021 to a family domiciled in New Jersey or outside of New Jersey who establish residence in the state within six months of birth and reside in a household with an annual income not exceeding 200 percent of the federal poverty level.

Establishes New Jersey Baby Bond Account Program to credit eligible infants with $2,000.

The New Jersey Baby Bond Account Program Act establishes the New Jersey Baby Bond Account Program and Baby Bond Account Fund in the Department of the Treasury. The program credits each eligible individual with a $2,000 deposit into an individual account. Eligible individuals are infants born on or after January 1, 2021 to a family domiciled in New Jersey or outside of New Jersey who establish residence in the state within six months of birth and reside in a household with an annual income not exceeding 200 percent of the federal poverty level.