AB 552 — Revises provisions relating to the Trust Fund for Child Welfare. (BDR 38-1124)

EXEMPTAssembly *Bill A.B.No.

552552–Committee Aon SSEMBLYWays Band ILLNMeans O.CHAPTER..........

552–COMMITTEE ON W AYS AND M EANS (O NB EHALF OF THE OFFICE OF FINANCE IN THE OFFICE OF THE G OVERNOR ) M AY 5, 2025 ____________ Referred to Committee on Ways and Means SUMMARY—Revises provisions relating to the Trust Fund for Child Welfare.

(BDR 38-1124) FISCAL NOTE:

Effect on Local Government:

No.

Effect on the State:

Yes.

~ EXPLANATION – Matter in bolded italics is new;

matter between brackets [omitted material] is material to be omitted.

thatExisting alllaw: benefits for survivors or other awards payable to children receiving child welfare services in a county whose population is less than 100,000 (currently all counties other than Clark and Washoe Counties) must be deposited in the State Treasury for credit to the Fund.

Under(1) existingcreates law, the DivisionTrust ofFund for Child andWelfare; Family Services of the Department of Health and Human Services is required to:

and (2) provides that all benefits for survivors or other awards payable to children receiving child welfare services in a county whose population is less than 100,000 (currently all counties other than Clark and Washoe Counties) must be deposited in the State Family Services of the Department of Health and Human Services is required to:

and (2) deduct from a child’s separate account any services to the child provided by public money.

and (2) any surplus balance must be remitted to the parent or legal guardian of the child, or to the child if the child is emancipated or has reached the age of 18 years, when the Division is no longer legally responsible for the child.

-EXPLANATION *AB552* – 2Matter –in THEbolded PEOPLEitalics OFis THEnew; STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

matter between brackets [omitted material] is material to be omitted.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

- 83rd Session (2025) – 2 – 3.

Interest must be paid at a rate equal to the average of the interest rates quoted by at least three banking institutions for interest-bearing savings accounts of $3,000 or less on the first day of each interest period.

All benefits for survivors or other awards payable to children receiving child welfare services in a county whose population is 100,000 or more pursuant to NRS 432.010 to 432.085, inclusive, must be deposited in the trust fund for child welfare,welfare established in the county treasury.

H~~~~~ 25 - *AB552*83rd Session (2025)