LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
FISCAL IMPACT STATEMENT
LS 7320 NOTE PREPARED: Mar 27, 2025
BILL NUMBER: HB 1441 BILL AMENDED: Mar 25, 2025
SUBJECT: Bank Accounts for Foster and Emancipated Youths.
FIRST AUTHOR: Rep. Campbell BILL STATUS: As Passed Senate
FIRST SPONSOR: Sen. Walker K
FUNDS AFFECTED: GENERAL IMPACT: Local
DEDICATED
FEDERAL
Summary of Legislation: This bill provides that a foster youth or emancipated youth is legally competent
to enter into a contract with a depository financial institution to open a savings or checking account in the
youth's name with the consent of a juvenile court with jurisdiction over the youth.
Effective Date: July 1, 2025.
Explanation of State Expenditures:
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:
Local Agencies Affected: Juvenile courts.
Information Sources:
Fiscal Analyst: Nate Bodnar, 317-234-9476.
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