Establishes the New York baby opportunity fund depositing $1,000 into an account for eligible children to use 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 eligible children. These funds are available to the child when they turn 18 and can be used for education costs, the purchase of real estate, or entrepreneurship. The fund is financed by transfers from the general fund and other sources. Eligible children are those born to parents who are residents of the state and have an annual household income of less than five hundred percent of the federal poverty level.

Establishes the New York baby opportunity fund depositing $1,000 into an account for eligible children to use 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 eligible children. These funds are available to the child when they turn 18 and can be used for education costs, the purchase of real estate, or entrepreneurship. The fund is financed by transfers from the general fund and other sources. Eligible children are those born to parents who are residents of the state and have an annual household income of less than five hundred percent of the federal poverty level.