The purpose of this legislation, known as the Foster Youth Investment Act, is to amend existing tax laws to allow for contributions to special accounts for foster children. These accounts are designed to help foster children manage their finances and save for their future needs. The key provisions of this act include the introduction of a new category of beneficiaries for these accounts. Specifically, it allows contributions to be made for foster children who are under the age of 18 and are either recognized as eligible foster children or are under the care of a state or tribal government.