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State Treasurer, advocates push pilot ‘Future Fund’ to test baby-bond style grants to young Washingtonians
Summary
SB 5541 would create a Future Fund pilot run by the State Treasurer to provide 40 one-time $25,000 grants to eligible Washington residents who were born and remain residents of the state and enrolled in Medicaid/Apple Health as infants; the treasurer, advocates and applicants described goals, distribution rules and evaluation plans.
The Ways & Means Committee received a briefing and public testimony on Feb. 3 on Senate Bill 5541, a proposal to establish a pilot “Future Fund” in the State Treasurer’s Office that would provide one-time $25,000 grants to 40 eligible Washington residents to invest in education, training, home purchase or business creation.
Sam Brown, committee staff, described the program structure: applicants must have been born in and currently reside in Washington, be age 18–36 at application, and have been…
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