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HF 544 Iowa's Water and Land Legacy

Fishbonker

Life Member
Also known as IWiLL or Fund the Trust. This bill would increase the sales tax there by funding the Natural Resources and Outdoor Recreation Trust Fund. It would also create a Baby Bond.

The Baby Bond, as I understand it, would use any non-allocated revenue from the sales tax increase to establish a savings account for babies. The state would create and administer savings accounts for each and every baby born in Iowa after July 1, 2022. Each baby bond would start with $500.00 upon application by parent or gradian and add $500.00/year to each and every baby bond plus interest until the child reaches the age of 18. The child then would receive a check for the balance or they could choose to receive payments over time. The monies would be available to the child until the child reaches age 35. If unclaimed the money would revert to the General Fund.

I'm not going to editorialize on this bill. I would suggest reading the bill as I'm sure there maybe parts I am misinterpreting. It is a long bill.

Link to the bill: HF 544
 
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