Senate Bill 989 proposes to allocate $60 million annually for the fiscal years 2025-26 and 2026-27 to the Department of Financial Institutions. This funding is specifically designated for contributions to Trump accounts, contingent upon these contributions being expressly authorized under state law. The bill aims to ensure that the department has the necessary financial resources to facilitate these contributions if they are legally permitted.

The bill includes a fiscal change that increases the appropriation for the Department of Financial Institutions under section 20.144 (1) (g) by $60 million for each of the specified fiscal years. This adjustment reflects the state's commitment to supporting the funding of Trump accounts, provided that such contributions are authorized by statute.