Treasurer Diossa Celebrates Passage of "Rhode Island Baby Bond Trust"
Published on Monday, June 23, 2025
For Immediate Release
Date: June 21, 2025
Contact: Grace A. Voll, Press Secretary
Treasurer Diossa Celebrates Passage of "Rhode Island Baby Bond Trust"
PROVIDENCE, RI – General Treasurer James A. Diossa celebrates the General Assembly’s passage of the “Rhode Island Baby Bond Trust” (H 6071 / S 0761), a visionary step toward closing the racial wealth gap and expanding opportunity for Rhode Island’s most vulnerable children.
This legislation, introduced by Senator Melissa Murray and Representative Joshua Giraldo at the request of Treasurer Diossa, will create the legal framework for a baby bond program. Held and managed by the Treasurer’s Office until the child reaches adulthood, the funds and any investment growth can be used to help pay for college or vocational training, buy a home, start a business, or make other long-term wealth-building investments all here in Rhode Island. Although the legislation does not include initial funding, Treasury will work to secure private and philanthropic partnerships to bring this transformative program to life.
“This is a bold step forward for economic equity in Rhode Island,” said Treasurer Diossa. “By giving every child, a foundation for future investment, we’re creating the conditions for upward mobility and long-term financial stability. This state was founded on the ideal of hope and that’s exactly what this program will do – give children hope for their future. I’m deeply grateful to Speaker Shekarchi, President Lawson, and legislative champions inside and outside the General Assembly for their support and look forward to working with partners to fund and implement this important initiative.”
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