Section 1 Short title
This Act may be cited as the “Foster Youth Investment Act”.
Foster Youth Investment Act
A BILL
To amend the Internal Revenue Code of 1986 to allow general contributions to Trump accounts for foster children.
Sec. 2 General contributions to Trump accounts for foster children
In general— Section 530A(f)(3)(A) of the Internal Revenue Code of 1986 is amended by adding at the end the following new clause:
“(iv) All account beneficiaries who—
“(I) have not attained the age of 18 before the close of the calendar year in which the contribution is made, and
“(II) are the eligible foster child (as defined in section 152(f)(1)(C)) of any taxpayer or are under the custody, supervision, or guardianship of a State or Indian tribal government.”
Combinations of classes and requirements permitted— Section 530A(f)(3)(A) of such Code, as amended by subsection (a), is amended by adding at the end the following new flush sentence:
Effective date— The amendments made by this subsection shall apply to contributions made after December 31, 2025.