Section 601 - DefinitionsAs used in this chapter:
(1) "Designated beneficiary" means an individual born on or after July 1, 2024 who was eligible at birth for coverage in the Dr. Dynasaur program established in accordance with Title XIX (Medicaid) and Title XXI (SCHIP) of the Social Security Act or for coverage available pursuant to 33 V.S.A. chapter 19, subchapter 9.(2) "Eligible expenditure" means an expenditure associated with any of the following, each as prescribed by the Treasurer: (A) education of a designated beneficiary;(B) purchase of a dwelling unit or real property in Vermont by a designated beneficiary;(C) investment in a business in Vermont by a designated beneficiary; or(D) investment or rollover in a qualified retirement account, Section 529 account, or Section 529A account established for the benefit of a designated beneficiary.(3) "Trust" means the Vermont Baby Bond Trust established by this chapter.Added by 2024, No. 184,§ 17, eff. 7/1/2024.