Int. No. 940
By Council Members Hudson, Williams, Won, The Speaker (Council Member Menin), Louis and Hanif
A Local Law in relation to a pilot program to establish a baby opportunity fund
Be it enacted by the Council as follows:
Section 1. a. Definitions. For the purposes of this local law, the following terms have the following meanings:
Department. The term “department” means the department of youth and community development or another agency designated by the mayor.
Eligible child. The term “eligible child” means any child born after the time of the effective date of this section, under the care of eligible parents.
Eligible parent. The term “eligible parent” means any parent or guardian who resides in the city and either:
1. Resides in a household that has an annual gross income of no more than 80 percent of the area median income, as defined annually by the United States department of housing and urban development for New York, adjusted for the size of the household; or
2. Is a runaway youth or a homeless youth as defined in section 532-a of the executive law; or
3. Is an eligible homeless person as defined in section 21-301 of the administrative code of the city of New York.
Non-profit organization. The term “Non-profit organization” means an organization that is operated exclusively for charitable, welfare, or similar purposes and is exempt from federal income taxation under section 501(c)(3) of the internal revenue code. Such organization must manage qualified programs under section 529 of the internal revenue code or similar interest-bearing scholarship or savings programs designed to support the educational advancement of eligible beneficiaries.
b. Baby opportunity fund pilot program. The department shall partner with a non-profit organization to establish a baby opportunity fund pilot program for a duration of 1 year. The department shall conduct outreach to families with potentially eligible children and shall develop application forms to be made available on the department’s website. The department shall review completed applications, determine eligibility, and submit applications for eligible children to the non-profit organization. A deposit of 2000 dollars shall be made into an individual account for each eligible child within 3 months of the non-profit organization’s receipt of the application. The department shall provide ongoing financial literacy and planning services for eligible families, including under what circumstances participation in the program is considered an asset for the purposes of determining eligibility for any other public benefits or assistance programs administered by the city.
c. Outreach. The department, in collaboration with the department of health and mental hygiene or another agency designated by the mayor that has appropriate expertise relating to identifying an eligible child, shall conduct outreach to inform families with potentially eligible children about such pilot program established pursuant to subdivision b of this section. Such outreach shall include, but not be limited to, distributing information on eligibility requirements, and how participation in such program may affect eligibility for any other public benefits or assistance programs administered by the city. The department shall inform potentially eligible parents that their participation in such program is voluntary and would require completing the application form available on the department’s website.
d. Report. No later than 15 months after the effective date of this local law, the commissioner of the department shall submit to the mayor and the speaker of the council a report on the pilot program established pursuant to subdivision b of this section. Such report shall include, but not be limited to, the following information:
1. A description of the pilot program’s key activities, including the number of families reached pursuant to subdivision c of this section, the number of application forms submitted to the non-profit organization for eligible children, and the number of eligible children that received the deposit of 2000 dollars into their account;
2. An evaluation of the feasibility of continuing and expanding the baby opportunity fund, including the feasibility of automatic enrollment;
3. A fiscal impact assessment; and
4. Any challenges with establishing or administering such program and recommendations for improving future pilot programs and city policy for future baby opportunity fund programs.
§ 2. This local law takes effect 180 days after it becomes law and expires and is deemed repealed upon submission of the report required by subdivision d of this law.
CY
LS #8998/17515/18027/20118
11/19/2025