1. Except as otherwise provided in subsection 2, a court shall retain jurisdiction over a young adult until the young adult reaches 21 years of age.
2. If a young adult was subject to a court order for placement in foster care on his or her 18th birthday and was not eligible for federal financial participation under Title IV-E of the Social Security Act, 42 U.S.C. §§ 670 et seq., before his or her 18th birthday, the agency which provides child welfare services may, on behalf of and with the consent of the young adult, petition the court to dismiss its current jurisdiction over the young adult and immediately reassume jurisdiction over the young adult to establish the eligibility of the young adult for such federal financial participation.
3. While under the jurisdiction of the court, a young adult has the same authority to make decisions as a person who is over 18 years of age and who is not subject to the jurisdiction of the court.