The Children's Future Act establishes a framework to create the Children's Future Fund, which aims to provide financial support for individuals born in New Mexico after January 1, 2025. The fund will assist beneficiaries in pursuing education, housing, entrepreneurship, retirement, and investment opportunities. It will be funded through various sources, including distributions, transfers, and donations, and will be administered by the Department of Finance and Administration. The act emphasizes that benefits from the fund are not guaranteed and do not create a property interest, ensuring that no enforceable rights are established under state law.

Additionally, the act creates the Children's Future Task Force, responsible for studying and recommending the optimal design and administration of the fund. The task force will consist of representatives from various state offices and public members with relevant experience. It is tasked with producing a report by December 31, 2025, detailing the implementation of the act, including eligibility requirements and financial plans. The act also includes a provision exempting money spent on behalf of beneficiaries from state income taxation and appropriates $5 million from the general fund to support the Children's Future Fund in fiscal year 2026 and beyond.