89R1527 MM-D     By: West S.B. No. 577       A BILL TO BE ENTITLED   AN ACT   relating to the establishment of the foster child trust account   program.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter A, Chapter 264, Family Code, is   amended by adding Section 264.0112 to read as follows:          Sec. 264.0112.  FOSTER CHILD TRUST ACCOUNT PROGRAM. (a) The   department in cooperation with the comptroller shall establish and   administer a foster child trust account program to hold federal   benefits described by Subsection (b) received by children in the   department's conservatorship.           (b)  For a child in the department's conservatorship who   receives or is eligible to receive United States Department of   Veterans Affairs benefits, Supplemental Security Income (SSI)   benefits under 42 U.S.C. Section 1381 et seq., or Social Security   Disability Insurance (SSDI) benefits under 42 U.S.C. Section 401 et   seq., the department shall:                (1)  serve as the representative payee for the benefits   received by the child;                 (2)  deposit any benefits received by the department on   behalf of the child into an interest-bearing trust account   maintained by the comptroller and manage the account until all   money in the account is disbursed to the child;                (3)  save the benefits in a manner that avoids   violating federal asset or resource limits that would negatively   affect the child's eligibility to receive the benefits; and                (4)  provide an accounting to the child and the child's   legal representative regarding the saving of the child's resources   under the program on the date the child is discharged from or   otherwise leaves foster care.           (c)  The comptroller may contract with one or more financial   institutions to establish and manage an account for each child who   receives benefits described by Subsection (b).          (d)  The comptroller shall make funds in the account   available to a child in accordance with Subsection (e) as soon as   practicable after:                (1)  the date the child leaves the department's   conservatorship if on that date the child:                      (A)  is at least 18 years of age; or                       (B)  has had the disabilities of minority removed;   or                (2)  the child's 18th birthday if the child is younger   than 18 years of age on the date the child leaves the department's   conservatorship.          (e)  On the date provided by Subsection (d), the comptroller   shall make the entire balance of the account available to the child   using a debit card or an online or electronic transfer payment   service if the balance of the account does not exceed $5,000.  If   the balance of the account exceeds $5,000, the comptroller shall   make $5,000 available to the child on the date provided by   Subsection (d), and pay the remaining balance of the account to the   child in increments not to exceed $5,000 each quarter after the   initial disbursement until no money remains in the account.          (f)  Neither the state nor a child's guardian may access   money in the child's account except that the state may deduct an   amount equal to any interest earned on money in the account.           (g)  On the date on which all money has been disbursed from a   child's account, the child's account is closed.          SECTION 2.  Not later than January 1, 2026, the Department of   Family and Protective Services shall adopt rules necessary to   establish and administer the accounts required under Section   264.0112, Family Code, as added by this Act.          SECTION 3.  This Act takes effect September 1, 2025.