The CIF is designed to help young people build their futures in the county. Funds are calculated annually based on income and accrue interest over time.
MONTGOMERY COUNTY, Md. — Montgomery County Council Members Will Jawando and Gabe Albornoz held a public hearing to discuss the Child Investment Fund bill, which was created to support intergenerational wealth building and economic investment in Montgomery County.
The CIF is designed to help young people build their futures in the county. Funds are calculated annually based on income and accrue interest over time.
Children of parents who live in Montgomery County after January 1, 2024 are eligible. Children can apply for funds when they turn 18. They must be county residents at the time of application. Payments will be made over time based on income at the time of application.
“I am pleased to introduce the Child Investment Fund as part of our commitment to building a more just, compassionate and equitable future for all Montgomery County residents,” said Councilman Jawando. “This CIF is the first of its kind in the state, making Montgomery County the first local government in the nation to create a fund aimed at addressing systemic barriers to wealth building, particularly for communities of color.”
“The CIF allows all eligible children born in Montgomery County to benefit from this investment, with the amount of distribution determined on a sliding scale based on income and economic circumstances at the time of distribution,” Councilman Albornoz said.
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