Enhances protections for child performer trust accounts

This bill strengthens financial protections for child performers in New York State by updating the rules for trust accounts that hold their earnings. It requires employers to set aside a tiered percentage of a child's gross income, ranging from 20% to 30%, into a trust managed by a parent, guardian, or professional custodian. The legislation also mandates that parents receive financial education when opening these accounts and allows children to close the trust once they turn eighteen. Additionally, the bill updates official forms used by the Department of Labor to clearly inform parents and employers of these new contribution requirements.