The Youth Homelessness Guaranteed Income Pilot Program Act establishes a one-year pilot program aimed at providing financial support to homeless youth in Hudson County. The program will offer a one-time payment of $5,000 and a monthly cash stipend of $1,200 for nine months to 50 eligible participants, defined as emancipated minors or individuals aged 18 to 24 who lack adequate nighttime residence. The Commissioner of Labor and Workforce Development is tasked with implementing the program, which includes providing technical assistance and wraparound services to participants, as well as collecting and analyzing data related to their housing status and economic stability.

Additionally, the bill stipulates that the cash stipends provided under the program will not be considered income, assets, or personal property when determining eligibility for state-funded public assistance programs. The commissioner is also required to collaborate with the Office of Homelessness Prevention and service providers to ensure effective program administration and participant support. A report detailing the program's findings and recommendations for future action must be submitted to the Governor and Legislature within six months of the program's conclusion.