Nevada Legislature considers bill to create baby bonds program

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Stock photo(Credit: Donnie Ray Jones / Flickr / CC BY 2.0)
Published: Feb. 21, 2023 at 12:49 PM PST
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LAS VEGAS, Nev. (FOX5) - A bill has been introduced in the Nevada Legislature that would create a state baby bonds program.

AB28, if passed, would also create the Nevada Baby Bonds Trust Fund, giving families a credit of $3,200 upon the notification of a birth for any baby born after Jan. 1, 2024 and was subject to medical coverage under Medicaid of the Children’s Health Insurance Program.

The fund would be established with $80 million.

Those who would submit claims for the credit must be at least 18 years old but less than 30 years old and a resident of the state for at least 12 months and agrees to use the money for “certain purposes.”

All information about beneficiaries would remain confidential.

The money could be used for, in part, post-secondary education, purchasing a home, starting a business or investing in financial assets.