This bill amends Chapter 42-72 of the General Laws concerning the Department of Children, Youth, and Families (DCYF) by introducing a new section that mandates the department to apply for social security benefits, supplemental security income, veterans benefits, and railroad retirement benefits on behalf of youth in care. The bill outlines the responsibilities of the department, including assessing eligibility for benefits upon receiving temporary custody or guardianship of a youth, filing applications, and ensuring that a representative payee is identified in accordance with federal regulations.

The department is required to notify relevant parties, including the youth, their attorney, guardian ad litem, and parent or legal guardian, about applications for benefits and any communications from the Social Security Administration, the U.S. Department of Veterans Affairs, or the Railroad Retirement Board regarding the acceptance or denial of benefits.

Additionally, the bill establishes guidelines for the conservation of benefits, specifying that a minimum percentage of benefits must be saved as the youth ages, with specific percentages outlined for different age groups: at least 40% from ages 14 to 15, at least 80% from ages 16 to 17, and 100% from ages 18 to 20, when a court order allows the department to act as an authorized agent.

The department is also tasked with providing financial literacy training to youth starting at age 14 and must provide annual accounting to the youth's attorney and guardian ad litem regarding how the benefits have been used and conserved. Furthermore, the department must report to the General Assembly on the status of youth in care receiving benefits, including the number of conserved accounts established and maintained for youth in care, the average amount conserved by age group, and the total amount conserved by age group.

The provisions of this act will take effect upon passage.