Reply to $1,800 per kid in Montgomery County

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You wonder why MoCo has so many illegal immigrants?  Just hang up the sign to central American already. Go past the border! Collect $1800 a pop in MoCo! [/quote]

[i]A so-called “baby bonds” bill is being considered in Montgomery County, in which $1,800 would be invested for every child born in the Maryland county.

The Child Investment Fund would be overseen by an 13-member committee, and the funds would be available for applicants once they reach age 18.

Those eligible to draw from the funds would have to meet a number of requirements including:

Being born after Jan. 1, 2024
Being residents of Montgomery County
Payments would be based on wealth and income at the time of application

The use of the funds would also be restricted to vocational or educational expenses, ownership or investment in a business in Montgomery County, the purchase of property in the county or funding retirement investments. [/i][/quote]
[b]Who is going to oversee this?[/b] You give a baby born in 2025 $1800 and they want to use it in 2045 to go to school. It is now worth $5000. Who is setting up these accounts and then verifying the actual use. Is their a program to keep track of allotments and reimbursements. So many people live to throw out ideas without giving any thought to implementation and oversight.[/quote]

The Bill would create a Child Investment Advisory
Committee to advise the County on various aspects of the Child Investment Fund, including on fund
performance and investment opportunities. The Committee would also be required to provide
recommendations to the Council by January 1, 2026 on eligibility requirements to receive
disbursements from the Fund and tiered disbursement levels based on financial need. The Committee
would be comprised of two ex-officio members from the Departments of Finance and Health and
Human Services, and eleven members representing various communities in the County, such as
community members with lived experience of poverty. The membership of the Committee would be
required to reflect the regional, racial, cultural, and socioeconomic diversity of the County.
The Department of Finance and the Child Investment Fund Advisory Committee would each be required to
publish annual reports on the status of the Child Investment Fund and related recommendations.

In case you're wondering, the Department of Finance oversees the County's investments.
https://www.montgomerycountymd.gov/bonds/[/quote]

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