LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
FISCAL IMPACT STATEMENT
LS 7320 NOTE PREPARED: Feb 10, 2025
BILL NUMBER: HB 1441 BILL AMENDED: Feb 6, 2025
SUBJECT: Bank Accounts for Qualified Youth.
FIRST AUTHOR: Rep. Campbell BILL STATUS: As Passed House
FIRST SPONSOR: Sen. Walker K
FUNDS AFFECTED:XGENERAL IMPACT: State & Local
DEDICATED
FEDERAL
Summary of Legislation: This bill provides that a qualified youth is legally competent to enter into a
contract with a depository financial institution to open a savings or checking account in the qualified youth's
name with the consent of: (1) the Department of Child Services; or (2) a juvenile court with jurisdiction over
the qualified 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 qualified 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 qualified 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.
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