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California Bill Would Give Newborns $500 Savings Accounts

This is a discussion on California Bill Would Give Newborns $500 Savings Accounts within the California & the Southwest US forums, part of the Where You Live category; SACRAMENTO — Every child born in California would get a $500 savings account to start building a nest egg for college ...

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Old 03-01-2007, 08:39 AM
JavaJill's Avatar
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Join Date: Jun 2004
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Default California Bill Would Give Newborns $500 Savings Accounts

Quote:
SACRAMENTO — Every child born in California would get a $500 savings account to start building a nest egg for college or down payment for a home, under a bipartisan bill introduced Wednesday in the state Senate.
http://www.foxnews.com/story/0,2933,255643,00.html

The catch is when the child turns 18, you have to return the $500 to the State.
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