Savings plan criticized

A bill that would give babies born in North Dakota $500 a year in state money until they’re 18 got a chilly reception in a House committee Thursday. Rep. Scot Kelsh, D-Fargo, said House Bill 1508 would encourage families to stay in the state. Babies born after Jan. 1, 2010, would get $500 seed money for an account that can’t be spent until they are 18. As long as they continue to live in the state, they will get another $500 per year, with the parents able to contribute up to $1,500 matching.

By: By Janell Cole , N.D. Capitol Bureau, The Jamestown Sun