HLS 22RS-2971 ENGROSSED
2022 Regular Session
HOUSE CONCURRENT RESOL UTION NO. 94
BY REPRESENTATIVE DUPLESSIS
CHILDREN: Requests a study regarding the potential establishment of a program to
provide children born to low- to moderate-income parents with a trust that, at
maturity, can be used for postsecondary education, the purchase of a home, or
formation of a business
1 A CONCURRENT RESOL UTION
2To urge and request the Department of Children and Family Services and the Louisiana
3 Department of Health, jointly, to study the feasibility, best structure, and potential
4 return on investment of a program to provide children born in Louisiana whose birth
5 was covered or eligible for coverage by Medicaid with a trust that, at maturity, can
6 be used to fund the child's postsecondary education in this state, the purchase of a
7 home in this state, or formation of a business in this state; and to report the findings
8 of the study to the legislature.
9 WHEREAS, though Louisiana is vastly wealthy in cultural and natural resources,
10poverty poses a barrier to too many of our citizens' pursuit of the American dream; and
11 WHEREAS, a lack of family financial resources can keep children born into less
12affluent circumstances from attaining education and economic security; and
13 WHEREAS, other states, notably Connecticut and Washington, have invested in their
14children's futures through initiatives known colloquially as "baby bonds" that provide for
15children individual trusts, paid for by the state, which the children can access after they turn
16eighteen; and
17 WHEREAS, beneficiaries of the trust funds provided by baby bonds programs may
18utilize monies from their trusts exclusively for education, the purchase of a home, the
19formation of a business, or for other asset-building purposes; and
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HCR NO. 94
1 WHEREAS, through a baby bonds program, Louisiana could give children born to
2low-income or moderate-income parents the chance to build a bright future for themselves
3and for our state; and
4 WHEREAS, in giving qualifying individuals a measure of financial stability to help
5them achieve their educational, entrepreneurial, or homeownership dreams, the legislature
6can improve this state's economy by helping future generations to build financial security;
7and
8 WHEREAS, in his Nobel Lecture on December 11, 1964, Dr. Martin Luther King,
9Jr. remarked: "There is nothing new about poverty. What is new, however, is that we have
10the resources to get rid of it"; and
11 WHEREAS, these words of Dr. King are true today, and they remind us that if we
12are going to solve the vexing problem of poverty, then we must conceive of it and endeavor
13to address it in new ways.
14 THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby
15urge and request the Department of Children and Family Services and the Louisiana
16Department of Health, jointly, to study the feasibility, best structure, and potential return on
17investment of a program to provide children born in Louisiana whose birth was covered or
18eligible for coverage by Medicaid with a trust that, at maturity, can be used to fund the
19child's postsecondary education in this state, the purchase of a home in this state, or
20formation of a business in this state.
21 BE IT FURTHER RESOLVED that in conducting the study called for in this
22Resolution, the Department of Children and Family Services and the Louisiana Department
23of Health shall research national best practices in development of programs of this type
24along with trends in policies focused on fostering economic stability and asset-building for
25people starting at birth.
26 BE IT FURTHER RESOLVED that in conducting the study called for in this
27Resolution, the Department of Children and Family Services and the Louisiana Department
28of Health shall engage and obtain guidance, data, and other necessary information from all
29of the following agencies:
30 (1) The Department of the Treasury.
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HCR NO. 94
1 (2) The Department of Education.
2 (3) The Louisiana Board of Regents.
3 (4) The State Board of Elementary and Secondary Education.
4 (5) The Department of Economic Development.
5 (6) The Louisiana Housing Corporation.
6 BE IT FURTHER RESOLVED that no later than sixty days prior to the convening
7of the 2023 Regular Session, the Department of Children and Family Services and the
8Louisiana Department of Health, jointly, shall submit to the elected members of legislature
9and to the David R. Poynter Legislative Research Library a report of findings from the study
10called for in this Resolution.
11 BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
12secretary of the Department of Children and Family Services, the secretary of the Louisiana
13Department of Health, the state treasurer, the state superintendent of education, the chairman
14of the Louisiana Board of Regents, the president of the State Board of Elementary and
15Secondary Education, the secretary of the Department of Economic Development, and the
16executive director of the Louisiana Housing Corporation.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HCR 94 Engrossed 2022 Regular Session Duplessis
Requests the Dept. of Children and Family Services (DCFS) and the La. Dept. of Health
(LDH), jointly, to study the feasibility, best structure, and potential return on investment of
a program similar to ones known in other states as "baby bonds" programs to provide
children born to low- to moderate-income parents with a trust that, at maturity, can be used
to fund the child's postsecondary education, purchase of a home, or formation of a business.
Requires that in conducting the study, DCFS and LDH shall engage and obtain guidance,
data, and other necessary information from all of the following agencies:
(1) The Dept. of the Treasury.
(2) The Dept. of Education.
(3) The La. Board of Regents.
(4) The State Board of Elementary and Secondary Education.
(5) The Dept. of Economic Development.
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HCR NO. 94
(6) The La. Housing Corp.
Requires DCFS and LDH, jointly, to report the findings of the study to the legislature no
later than 60 days prior to the convening of the 2023 R.S.
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