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Panel Backs Study of ‘Baby Bond’ Accounts, Sponsors Say Study Would Cost Nothing to State Budget
Summary
Delegate Mark Edelson asked the Appropriations Committee to require the state comptroller to study the feasibility of a Maryland baby bond program, with advocates saying such an account could build generational wealth for children born into poverty and that several states are already considering or have adopted similar programs.
Delegate Mark Edelson presented House Bill 753, which would direct the state comptroller to study the feasibility of a baby bond or children’s savings account program for children born in poverty and deliver a report on funding options and implementation choices.
Edelson said baby bonds — state-managed trust accounts for children that mature at…
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