{"data":{"id":"us-dc/d.c.-code-4-681.02-perm","jurisdiction":"us-dc","citation":"D.C. Code § 4-681.02(Perm)","heading":"Child Trust Fund.","body":"\n  *NOTE: This codification is not the most current, due to recent law changes. To see the current law (including emergency and temporary legislation, if relevant) click this link: Current Version*\n  \n\n(a)\nThere is established as a special fund, the Child Trust Fund (\"Fund\"), which shall be administered by the Chief Financial Officer in accordance with subsection (d) of this section.\n\n(b)\nThere shall be deposited into the Fund:\n(1)\nEarnings from investments of the money in the Fund;\n(2)\nOther monies that may be appropriated for the purposes of this chapter; and\n(3)\nAll revenues collected pursuant to § 36-621.15.\n\n(c)\nRepealed.\n\n(d)\nThe money in the Fund, which shall consist of all the amounts paid into the Fund pursuant to subsection (b) of this section, increased by the net earnings from investments of amounts held in the Fund or reduced by the net losses from investments of amounts held in the Fund, and less total payments, including distributions and administrative expenses, shall be used to:\n(1)\nMake distributions pursuant to § 4-681.06, and in accordance with the rules issued pursuant to this chapter;\n(2)\nPay the cost of administering the Fund; provided, that no more than 2% of the balance in any fiscal year shall be used for this purpose; and\n(3)\nPay the cost to contract with, if appropriate and necessary, an independent fiduciary to manage the investment of the money in the Fund, including the cost of insurance to cover the potential liability, with respect to the management of the Fund, of the fiduciary; and\n\n(e)\nThe money in the Fund shall not be used for any purpose other than the purposes specified in subsection (d) of this section.\n\n(f)\n(1)\nThe money deposited into the Fund, but not expended in a fiscal year, shall not revert to the unassigned fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.\n(2)\nSubject to authorization in an approved budget and financial plan, any money appropriated in the Fund shall be continually available without regard to fiscal year limitation.\n\n(g)\n(1)\nAll the money in the Fund shall belong to the District government until an amount is dispersed to make a payment pursuant to subsection (d)(2) or (3) of this section or a distribution pursuant to § 4-681.06.\n(2)\nPrior to distribution pursuant § 4-681.06, and not withstanding any other law, money in the Fund designated for an eligible child enrolled in in the CFT program may not be considered:\n(A)\nGross income of the eligible child or the parent; or\n(B)\nFor the purpose of determining eligibility of the eligible child or the parent for financial aid, local or federal, including the Temporary Assistance for Needy Families Program, the federal Low Income Home Energy Assistance Program or Weatherization Assistance Program, an educational aid or grant, or any other need-based aid or grant.","path":["Title 99. Reserved sections."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/4-681.02(Perm)","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"1870a35c7e1a6d6edc713db47bec865a1a6e49c955e18a339d233c7e8e4bcb94","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-4-681.03-perm","next":"us-dc/d.c.-code-4-681.01-perm"},"notice":"GroundRules: Original legal text. Not legal advice."}