Signed by Governor Gavin Newsom

Vote Smart's Synopsis:

Vote to amend and pass a bill that establishes the California Kids Investment and Development Savings (KIDS) Program for foster youth.

Highlights:

• Requires a KIDS Account to be opened for a pupil who is a foster youth and is enrolled in any of grades 1 to 12, inclusive, at a school district, public charter school, state special school, or other local educational agency, if an account has not already been established for them (Sec. 1). 

• Requires each account to receive a one-time enhanced deposit of $500 (Sec. 1). 

• Requires an additional enhanced deposit of $500 for those foster youth who did not previously receive the above-described deposits for unduplicated pupils in the 2021–22 fiscal year and unduplicated pupils in the first grade commencing with the 2022–23 fiscal year, as provided (Sec. 1). 

• Limits the one-time enhanced deposits provided by the bill to the KIDS Accounts of those foster youth that had not already received one of the above-described enhanced deposits for foster youth (Sec. 1).

Full Bill Text