S.1827

Establishes New Jersey Baby Bond Account Program to credit $2,000 to each eligible infant.

The New Jersey Baby Bond Account Program Act establishes the New Jersey Baby Bond Account Program in the Department of the Treasury. The program credits each eligible individual with a $2,000 deposit into an individual account in the Baby Bond Account Fund. An eligible individual is any infant born on or after January 1, 2021 to a family domiciled in this State or outside of this State, provided the individual establishes residence in the State within six months of birth, and who resides in a household having an annual household income on the individual’s date of birth that does not exceed.