Terms Used In Kansas Statutes > Chapter 65 > Article 71 - Assistive Device Individual Development Account Program

• 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
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• 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
• Contingent beneficiary: Receiver of property or benefits if the first named beneficiary fails to receive any or all of the property or benefits in question before his (her) death.
• 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
• Financial institution: means any bank, trust company, savings bank, credit union or savings and loan association or any other financial institution regulated by the state of Kansas, any agency of the United States or other state with an office in Kansas which is approved by the institute to create and manage the necessary financial instruments setting up individual development accounts for eligible families or individuals to implement this program. See Kansas Statutes 65-7102
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Individual development account: means a financial instrument established in Kan. See Kansas Statutes 65-7102
• Individual development account reserve fund: means the fund created by an approved community-based organization for the purposes of funding the costs incurred in the administration of the program by the financial institutions and the community-based organizations and for providing matching funds for moneys in individual development accounts. See Kansas Statutes 65-7102
• Institute: means the Schiefelbusch institute for life span studies of the university of Kansas. See Kansas Statutes 65-7102
• Matching funds: means the moneys designated for contribution from an individual development account reserve fund to an individual development account by a community-based organization at a one-to-one ratio up to a three-to-one match. See Kansas Statutes 65-7102
• Program: means the Kansas individual development account program established in Kan. See Kansas Statutes 65-7102
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201