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To amend the Internal Revenue Code of 1986 to allow general contributions to Trump accounts for foster children.
Summary
- Amends the Internal Revenue Code to allow general contributions to accounts for eligible foster children who have not attained age 18
- Expands account beneficiary eligibility to include children who are the eligible foster child of any taxpayer
- Expands account beneficiary eligibility to include children under the custody, supervision, or guardianship of a State or Indian tribal government
- Allows combinations of different groups of account beneficiaries as long as all account beneficiaries have not attained age 18 by the close of the calendar year in which the contribution is made
- Takes effect for contributions made after December 31, 2025
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
Actions (2)
- Jul 23, 2026 Referred to the House Committee on Ways and Means. · house
- Jul 23, 2026 Introduced in House
Similar bills (6)
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Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
July 23, 2026
Mr. Moore of Utah introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to allow general contributions to Trump accounts for foster children.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Foster Youth Investment Act”.
SEC. 2. GENERAL CONTRIBUTIONS TO TRUMP ACCOUNTS FOR FOSTER CHILDREN.
(a) 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.”.
(b) 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: “Such term shall also include any combination of one or more groups described in clause (ii), (iii), or
(iv), and any group determined using a combination of the criteria in clauses (ii), (iii), and (iv) (except that all account beneficiaries in such group must have not attained the age of 18 before the close of the calendar year in which the contribution is made).”.
(c) Effective Date.—The amendments made by this subsection shall apply to contributions made after December 31, 2025. <all>
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