[20060208]RS21813_个人发展账户的税收抵免.pdf

1 For more information on federal IDA grant programs, see CRS Report RS22185, IndividualDevelopment Accounts (IDAs): Background and Current Legislation for Federal GrantPrograms to Help Low-Income Families Save, by Gene Falk.Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21813Updated February 8, 2006Tax Credits for Individual Development AccountsChristine ScottSpecialist in Tax EconomicsDomestic Social Policy DivisionSummaryAn individual development account (IDA) is a structured savings instrument forlower income individuals. Currently, IDAs are associated with (1) state programs usingTemporary Aid to Needy Families (TANF) block grants; (2) a federal five-yeardemonstration project established by the Assets for Independence Act (Title IV of P.L.105-285); and (3) accounts established for refugees by the Office of RefugeeResettlement. These IDA programs use government funds to encourage theestablishment of IDA programs and participation by qualified individuals and programsponsors. A new approach, that of using federal tax credits to encourage establishing andfunding IDA programs, was a component of legislation int