LEGISLATIVE SERVICES AGENCY OFFICE OF FISCAL AND MANAGEMENT ANALYSIS FISCAL IMPACT STATEMENT LS 7320 NOTE PREPARED: Jan 8, 2025 BILL NUMBER: HB 1441 BILL AMENDED: SUBJECT: Bank Accounts for Foster Children. FIRST AUTHOR: Rep. Campbell BILL STATUS: As Introduced FIRST SPONSOR: FUNDS AFFECTED:XGENERAL IMPACT: State & Local DEDICATED FEDERAL Summary of Legislation: This bill provides that a foster youth who is at least 16 years of age is legally competent to enter into a contract with a bank or trust company to open a savings or checking account in the foster youth's name with the consent of: (1) the Department of Child Services; or (2) a juvenile court with jurisdiction over the foster youth. Effective Date: July 1, 2025. Explanation of State Expenditures: The bill may increase workload for the Department of Child Services to the extent a foster youth wants to open a checking account. The increase in workload is expected to be accomplished within existing resources. Explanation of State Revenues: Explanation of Local Expenditures: The bill may increase workload for a juvenile court with jurisdiction to the extent a foster youth wants to open a checking account. The increase in workload is expected to be accomplished within existing resources. Explanation of Local Revenues: State Agencies Affected: Department of Child Services. Local Agencies Affected: Juvenile courts. Information Sources: Fiscal Analyst: Nate Bodnar, 317-234-9476. HB 1441 1