Establishes the New York baby opportunity fund depositing $1,000 into accounts for eligible children to be used for education, real estate, or.

The bill establishes the New York baby opportunity fund, which deposits $1,000 into an account managed by the state comptroller for each eligible child. Eligible children are those born to parents who are residents of New York and have an annual household income below 500% of the federal poverty level. The funds are to be invested to generate a rate of return at least equal to a thirty-year treasury bond. The account can only be accessed by the child when they reach 18 years of age and are a current resident of New York.

Establishes the New York baby opportunity fund depositing $1,000 into accounts for eligible children to be used for education, real estate, or.

The bill establishes the New York baby opportunity fund, which deposits $1,000 into an account managed by the state comptroller for each eligible child. Eligible children are those born to parents who are residents of New York and have an annual household income below 500% of the federal poverty level. The funds are to be invested to generate a rate of return at least equal to a thirty-year treasury bond. The account can only be accessed by the child when they reach 18 years of age and are a current resident of New York.