Kansas Statutes 65-7104. Same; eligibility qualifications
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 65-7104
- Account holder: means a person who is the owner of an individual development account. See Kansas Statutes 65-7102
- Assistive technology: means any item, piece of equipment or product system, whether acquired commercially, off the shelf, modified or customized, that is used to increase, maintain or improve functional capabilities of individuals with disabilities. See Kansas Statutes 65-7102
- Community-based organization: means any nonprofit or charitable association that is approved by the institute to implement the individual development account reserve fund. See Kansas Statutes 65-7102
- Federal poverty level: means the most recent poverty income guidelines published in the calendar year by the United States department of health and human services. See Kansas Statutes 65-7102
- Individual development account: means a financial instrument established in Kan. See Kansas Statutes 65-7102
A family or individual whose household income is less than or equal to 300% of the federal poverty level may open an individual development account for the purpose of accumulating and withdrawing moneys for specified expenditures. The account holder may withdraw moneys from the account on the approval of the community-based organization, without penalty, for expenditures for assistive technology.