On or before February 1, 2024, the board shall submit a report to the Department of Finance and the Legislature, pursuant to Section 9795 of the Government Code, that includes, at a minimum, recommendations of the board on all of the following: (a) A detailed plan for implementing the program and establishing and maintaining HOPE trust accounts for an eligible child or eligible youth that maximizes their participation and their autonomous wealth-building capacity. (b) The anticipated number of HOPE trust accounts to be opened and initial deposit amounts. (c) A description of the efforts to be used to solicit philanthropic or nonstate moneys to support the program. (d) Further statutory and budget allocations.
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