Assembly Bill 997 proposes to allocate $60 million annually for the 2025-27 fiscal biennium to the Department of Financial Institutions for contributions to Trump accounts, contingent upon these contributions being expressly authorized by state law. The bill outlines a fiscal change that increases the appropriation for the department under section 20.144 (1) (g) by $60 million for both fiscal years 2025-26 and 2026-27.

This funding aims to support the department's ability to make these contributions, emphasizing the requirement for explicit statutory authorization. The bill has been introduced by a group of representatives and is co-sponsored by senators, and it has been referred to the Committee on Financial Institutions for further consideration.