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ND House mulls idea of tax-supported nest egg for newborns

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North Dakota's House is considering a measure to study the idea of starting a tax-supported nest egg for newborns.

The House Finance and Taxation Committee is slated to review the legislation on Wednesday.

Minot Republican Senator Oley Larsen introduced the bill in the Senate. The measure originally aimed to open a $5,000 account at the Bank of North Dakota for babies born after Jan. 1, 2017.

The money would be used to pay tuition at a state college, or to pay for a business, home or farm loan when the child became an adult.

The Senate amended the measure to study the idea instead.


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