2003 House Bill 4969 ↩

Senate Roll Call 869: Passed

To raise to $5,000 the amount a welfare recipient may accumulate in an “an individual development account” to be used for a first home purchase downpayment. The bill would expand the eligible uses of the accounts to include post-secondary education and business capitalization. Under current law, assets in such an account are disregarded for purposes of determining welfare eligibility. The bill would authorize the Family Independence Agency to increase the $5,000 cap.