Relating to the establishment of the foster child trust account program.

SB 577 proposes a program to manage federal benefits for foster children in Texas. It requires the Department of Family and Protective Services to work with the comptroller to establish interest-bearing trust accounts for children in foster care who receive U.S. Department of Veterans Affairs benefits, Supplemental Security Income (SSI), or Social Security Disability Insurance (SSDI). The department would serve as the child's representative payee, deposit benefits into these accounts, and manage funds to maintain the child's eligibility for ongoing benefits. Funds would be disbursed in full (or in $5,000 quarterly installments for larger balances) when the child turns 18 or leaves foster care, whichever occurs first. The bill is pending in committee and not yet law.