RELATING TO BABY BONDS.
Summary
Establishes the Wealth Building Working Group to develop a plan for the creation of a baby bonds program for the State to address intergenerational poverty and wealth inequality in Hawaii. Effective 7/1/3000. (HD1)
Bill status
in committee
3 of 5 stages cleared
Introduction
Jan 2025
Committee Review
Feb 2025
House Passage
Feb 2025
Senate Passage
Governor
Introduced Jan 16, 2025
Last action Feb 11, 2025
Maddy AI version diff · 1 comparison
What changed between versions
HB324
→
HB324_HD1
·
4 edits
MODERATE
The bill was renamed from 'Baby Bonds' to 'Wealth Building Working Group' in the working group's title. The working group's composition was expanded to include analysis of additional asset-building programs like the HI529 Plan and Individual Development Accounts. The effective date was changed from immediate approval to July 1, 3000, which appears to be a placeholder or error. The bill description was updated to reflect the new working group name and the delayed effective date.
Scope change
The bill's scope was slightly expanded by requiring the working group to analyze additional asset-building programs beyond just the Connecticut baby bonds model, potentially broadening the scope of recommendations.
REQUIREMENT
Working group title changed from 'Baby Bonds Working Group' to 'Wealth Building Working Group'
Working group duties expanded to include analysis of HI529 Plan and Individual Development Accounts in addition to Connecticut baby bonds program
TIMELINE
Effective date changed from immediate approval upon passage to July 1, 3000 (likely a placeholder or clerical error)
TECHNICAL
Bill description updated to reflect new working group name and delayed effective date
Floor votes · House Feb 11, 2025
How they voted
47–2
Passed · 2 other
Total votes 51
Feb 11, 2025
D
Democratic41
100% Yea
R
Republican10
60% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
8
Key actions
2
Committee
3
Feb 11, 2025
Committee
Reported from HSH (Stand. Com. Rep. No. 414) as amended in HD 1, recommending passage on Second Reading and referral to FIN.
lower
Feb 11, 2025
House · Passed
House Vote: pass (47-2-2)
house
Feb 6, 2025
Lower · Passed
The committee on HSH recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 8 Ayes: Representative(s) Marten, Olds, Amato, Chun, Keohokapu-Lee Loy, Takayama, Takenouchi, Alcos; Ayes with reservations: none; 1 Noes: Representative(s) Garcia; and Excused: none.
lower
Jan 21, 2025
Committee
Referred to HSH, FIN, referral sheet 1
lower
Jan 17, 2025
Introduced
Introduced and Pass First Reading.
lower
Jan 16, 2025
Introduced
Pending introduction.
lower
8 primary · 0 co-sponsors
Sponsors
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