BELLINGHAM, WA – (KGMI.com) A bill may be passed next year that’ll put money aside for newborns facing poverty.

Nicknamed the “baby bond” bill, the Washington Future Fund invests $4,000 per child born under the Apple Health program.

40,000 children covered by Apple Health are born in Washington each year, which is nearly half of all newborns for the state.

The money goes into a trust fund that the person can access between the ages 18 and 35.

By that time, the accounts would have accrued interest, reaching as much as $15,000 after 18 years and $30,000 after 35 years.

The funds are meant for three purposes: homeownership, entrepreneurship and postsecondary education.

The bill was introduced in early 2022 and is currently up for review by financial committees.

After committees, the baby bond bill needs to be passed by the full legislative body in the next session beginning Jan 8, passing it into law.

According to Seattle’s Child, the Washington State Treasurer Mike Pellicciotti hopes the bond can launch this year using money already raised by the Treasurer’s Office.