Foster Youth Investment Act
Latest action (23 Jul 2026): Introduced
What this bill does
This bill, the Foster Youth Investment Act, would amend the Internal Revenue Code to change the rules governing "Trump accounts," a tax-advantaged savings vehicle for children created under existing law. Specifically, it would expand the categories of people who may make general contributions to these accounts to include foster children under age 18—defined by reference to the tax code's existing definition of an eligible foster child—as well as children under the custody, supervision, or guardianship of a state or Indian tribal government. The bill also clarifies that contribution eligibility groups can be defined using combinations of these criteria alongside existing categories already allowed under the law, so long as all beneficiaries in the combined group are under 18.
The change would primarily affect foster children, the individuals or entities (such as foster parents, states, or tribal governments) who might contribute to accounts on their behalf, and financial institutions administering Trump accounts. By broadening who can contribute, the bill aims to make it easier for savings to be built up for children in foster care or under government custody. The amendments would apply to contributions made after December 31, 2025.
The bill was introduced in the House on July 23, 2026, by Rep. Blake Moore of Utah and referred to the House Committee on Ways and Means, which has jurisdiction over tax legislation. As of the latest action, it has not advanced beyond introduction; further committee review, potential amendment, and votes in the House and Senate would be required before it could become law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
This bill is in the first stage of the legislative process. It was introduced into Congress on July 23, 2026. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.
Common questions
- What does H.R. 9920 do?
- This bill, the Foster Youth Investment Act, would amend the Internal Revenue Code to change the rules governing "Trump accounts," a tax-advantaged savings vehicle for children created under existing law. Specifically, it would expand the categories of people who may make general contributions to these accounts to include foster children under age 18—defined by reference to the tax code's existing definition of an eligible foster child—as well as children under the custody, supervision, or guardianship of a state or Indian tribal government. The bill also clarifies that contribution eligibility groups can be defined using combinations of these criteria alongside existing categories already allowed under the law, so long as all beneficiaries in the combined group are under 18. The change would primarily affect foster children, the individuals or entities (such as foster parents, states, or tribal governments) who might contribute to accounts on their behalf, and financial institutions administering Trump accounts. By broadening who can contribute, the bill aims to make it easier for savings to be built up for children in foster care or under government custody. The amendments would apply to contributions made after December 31, 2025. The bill was introduced in the House on July 23, 2026, by Rep. Blake Moore of Utah and referred to the House Committee on Ways and Means, which has jurisdiction over tax legislation. As of the latest action, it has not advanced beyond introduction; further committee review, potential amendment, and votes in the House and Senate would be required before it could become law.
- Has H.R. 9920 become law?
- Not yet. As of 23 Jul 2026, H.R. 9920 is introduced.
- Who sponsored H.R. 9920?
- H.R. 9920 was sponsored by Rep. Blake Moore [R-UT1] (Republican-UT), with 0 cosponsors.
- What's the latest action on H.R. 9920?
- Introduced (23 Jul 2026).
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