Senate · Introduced · 2025-2026 Regular Session

SB534: SB534 Georgia Baby Bond Savings Plan; provide for creation

Last action February 19, 2026 · Senate Read and Referred

A Georgia Senate bill would create the Georgia Baby Bond Savings Plan, a state savings account automatically opened for every Georgia child born on or after July 1, 2023, funded partly by state contributions.

In plain language

Georgia does not currently run a state savings program for children. This bill would add a new chapter to Title 39 of Georgia law creating the Georgia Baby Bond Savings Plan, a state entity run by a board chaired by the Governor and including the state auditor, budget director, revenue commissioner, three gubernatorial appointees, and the state treasurer as administrator. Every Georgia resident born on or after July 1, 2023 would be automatically enrolled as a beneficiary of one savings trust account. The General Assembly would be required to make an initial deposit of at least $1,000 (or $2,000 for families receiving benefits like Medicaid, TANF, or SNAP) and annual deposits of at least $250 (or $1,000 for those same families) until the child turns 18. Funds would sit in a new state trust fund, be invested by the treasurer, and could later be withdrawn tax-free for education, buying a home, retirement after age 59 and a half, or other approved long-term investments. Certain account records would be kept confidential and exempt from Georgia's open records law.

What the bill does

Creates the Georgia Baby Bond Savings Plan and a governing board chaired by the Governor to run savings trust accounts for children.
Automatically enrolls every Georgia resident born on or after July 1, 2023 as a beneficiary of one savings trust account.
Requires the General Assembly to make an initial contribution of at least $1,000 (or $2,000 for lower-income families) when each account opens.
Requires annual state contributions of at least $250 (or $1,000 for lower-income families) to each account until the beneficiary turns 18.
Creates the Georgia Baby Bond Savings Plan Trust Fund in the state treasury, split into administrative, endowment, and program accounts, to hold and invest the money.
Exempts contributions from state taxes and shields certain account records, like account numbers and transaction statements, from Georgia's open records law (O.C.G.A. Title 50, Chapter 18).

Who it affects

Georgia children born on or after July 1, 2023 and their parents or guardians, who would become account owners; the state treasurer's office and a new gubernatorially chaired board, which would run the program; and the General Assembly, which would be required to fund the accounts from the state treasury's surplus.

Why it matters

If enacted, Georgia would begin setting aside public money for children at birth, with larger contributions for families receiving federal assistance, that could later be used for college, buying a home, or other long-term needs once the child turns 18, changing how the state supports children's financial futures.

Key provisions

Section 39-7-3 creates the plan as a state instrumentality governed by a board chaired by the Governor, with the state treasurer as administrative officer.
Section 39-7-5 creates the Georgia Baby Bond Savings Plan Trust Fund in the state treasury, split into administrative, endowment, and program accounts, and states the funds are not state property.
Section 39-7-7 gives the board authority to set a comprehensive investment plan and directs the state treasurer to invest trust fund money as a prudent investor.
Section 39-7-9 states that money in a savings trust account does not count as an asset when determining eligibility for need-based aid programs.
Section 39-7-10 exempts specific account records, such as applications, account numbers, and transaction statements, from Georgia's open records law.
Section 39-7-11 automatically enrolls all Georgia residents born on or after July 1, 2023 as beneficiaries, limited to one account each.
Section 39-7-12 requires the General Assembly to make an initial contribution of $1,000 (or $2,000 for families on federal assistance programs) and annual contributions of $250 (or $1,000 for those families) until age 18.

Status timeline

2026-02-19Senate Read and Referred (Senate)
2026-02-18Senate Hopper (Senate)

Topics

baby bonds
child savings accounts
state treasury investments
education savings
public assistance eligibility