Section 18997.5.
18997.5. (a) This chapter shall be known, and may be cited, as the California Hope, Opportunity, Perseverance, and Empowerment (HOPE) for Children Trust Account Act. (b) The California Hope, Opportunity, Perseverance, and Empowerment (HOPE) for Children Trust Account Program is hereby established for the purpose of providing an eligible child with a trust account pursuant to this […]
Section 18997.51.
18997.51. For purposes of this chapter, the following definitions shall apply: (a) “Account,” “trust account,” or “HOPE trust account,” means the California Hope, Opportunity, Perseverance, and Empowerment (HOPE) for Children Trust Account in the name of an eligible child or eligible youth. (b) “Board” means the California Hope, Opportunity, Perseverance, and Empowerment (HOPE) for Children Trust Account […]
Section 18997.52.
18997.52. (a) (1) There is hereby created within state government the California Hope, Opportunity, Perseverance and Empowerment (HOPE) for Children Trust Account Program Board, which shall consist of nine members, as follows: (A) The Treasurer, or their designee, who shall serve as the chair. (B) The Director of Finance, or their designee. (C) The Controller, or their designee. (D) An individual […]
Section 18997.53.
18997.53. (a) The California Hope, Opportunity, Perseverance, and Empowerment (HOPE) for Children Trust Account Fund is hereby established in the State Treasury. Notwithstanding Section 13340 of the Government Code, except for moneys derived from the federal American Rescue Plan Act of 2021 (Public Law 117-2), moneys in the fund shall be continuously appropriated, without regard to […]
Section 18997.54.
18997.54. (a) On or before February 1, 2023, the Treasurer shall convene the California Hope, Opportunity, Perseverance and Empowerment (HOPE) Advisory Workgroup to work in coordination with the board on the program design, including, but not limited to, data sharing with relevant governmental agencies and departments, outreach to families of an eligible child and to eligible […]
Section 18997.55.
18997.55. On or before February 1, 2024, the board shall submit a report to the Department of Finance and the Legislature, pursuant to Section 9795 of the Government Code, that includes, at a minimum, recommendations of the board on all of the following: (a) A detailed plan for implementing the program and establishing and maintaining HOPE […]