Individual Development Accounts By State
State Individual Development Accounts (Limit) Family's IDA Contribution is Matched
(Match Rate)		 Post-Secondary Education First Home Purchase Business Capitalization Medical Expense Other
Alabama NO N/A N/A N/A N/A N/A N/A
Alaska NO N/A N/A N/A N/A N/A N/A
Arizona YES NO YES YES YES NO YES1
$9,000
Arkansas YES YES YES YES YES NO YES2
$2,000 per person up to $4,000 maximum (3:1)
California County Option County Option County Option County Option County Option County Option County Option
Colorado YES YES YES YES YES NO NO
(no limit) (County Option)
Connecticut YES NO YES NO NO NO NO
(no limit)
Delaware  YES NO YES YES YES NO YES, on a case by case basis3
$5,000
Dist. of Col. NO N/A N/A N/A N/A N/A N/A
Florida YES 1:01 YES YES YES NO N/A (Limit: $1,000 per year; $3,000 lifetime)
Georgia  YES NO YES YES YES NO NO
$5,000
Guam NO N/A N/A N/A N/A N/A N/A
Hawaii NO N/A N/A N/A N/A N/A N/A
Idaho NO N/A N/A N/A N/A N/A N/A
Illinois YES YES YES YES YES NO YES1,2
Max matched $1,000 (1:1)
Indiana YES YES YES YES YES NO YES1
(no limit) (3:1 up to $300/year)
Iowa YES YES YES YES YES YES YES1,4
$50,000 15-25%
Kansas YES NO YES YES YES NO YES5
(no Limit)
Kentucky NO NO YES YES YES NO YES6
$5,000
Louisiana YES NO YES YES YES NO YES1
$6,000
Maine YES YES YES YES YES YES YES2,4,7
$10,000 plus interest (varies)
Maryland YES8 NO YES YES YES NO NO
Massachusetts NO N/A N/A N/A N/A N/A N/A
Michigan YES YES YES YES YES NO NO
$1,000 (up to 3:1 depending on purpose)
Minnesota YES YES YES YES YES NO NO
$3,000 (3:1)
Mississippi NO N/A N/A N/A N/A N/A N/A
Missouri NO N/A N/A N/A N/A N/A N/A
Montana YES YES YES YES YES NO NO
(no limit) (2:1 up to $4,000)
Nebraska NO N/A N/A N/A N/A N/A N/A
Nevada YES YES YES YES YES NO NO
New Hampshire YES YES YES YES YES NO NO
New Jersey YES9 (1:1) YES YES YES NO NO
New Mexico YES NO NO YES YES NO YES10
$1,500
New York YES YES YES YES YES NO NO
(no limit)
North Carolina YES YES YES YES YES NO NO
$2,000 (1:1 up to $2,000)
North Dakota NO N/A N/A N/A N/A N/A N/A
Ohio YES County Discretion YES YES YES NO NO
$10,000 (up to 2:1)
Oklahoma YES YES11 YES YES YES NO NO
$2,000
Oregon YES YES YES NO NO NO NO
(no limit) ($1.00 per hour worked)
Pennsylvania NO N/A N/A N/A N/A N/A N/A
Puerto Rico NO NO NO NO NO NO NO
Rhode Island NO NO NO NO YES NO NO
$2,500
South Carolina YES NO YES YES YES NO YES1
$10,000
South Dakota NO N/A N/A N/A N/A N/A N/A
Tennessee YES YES YES YES YES NO YES3
$5,000 (varies)
Texas YES YES12 YES YES YES NO NO
$10,000 (3:1 for initial deposit
1:1 for added deposit)
Utah NO N/A N/A N/A N/A N/A N/A
Vermont YES YES YES YES YES NO NO
($500)13
Virginia YES NO YES YES YES NO YES1,10
$5,000
Virgin Islands No N/A N/A N/A N/A N/A N/A
Washington YES YES YES YES YES NO NO
Client $2,000, contractor $4000--max $6000 2:1 up to $4,000
West Virginia NO N/A N/A N/A N/A N/A N/A
Wisconsin YES NO NO NO NO NO NO
(county option)
Wyoming NO N/A N/A N/A N/A N/A N/A

[1] States allow individuals to use funds for training program expenses.
[2] States allow funds to be spent to purchase or repair an automobile.
[3] Approved reasons include funds to be used for self-sufficiency reasons.
[4] Funds can be used for work related vehicle/transportation costs.
[5] Kansas allows Assistance Technology Savings.
[6] Kentucky allows funds to be used for emergency repairs to home.
[7] Maine also allows spending for certain emergency expenses.
[8] Maryland has created IDA's in three counties.
[9] New Jersey allows contributions up to $1,500 per year for 3 years.
[10] New Mexico and Virginia allow funds to be used for the education expenses of dependents.
[11] Oklahoma varies contribution based on income. For current recipients or people who have been recipients at some time since October 1, 1996: For persons with income in the preceding year that is less than or equal to 100% of the Federal Poverty Level there is a $1.00 match from TANF funds not to exceed a $500 match per year for a period of up to 4 years. For persons with income that is more than 100% of the Federal Poverty Level or less than 150% of the Federal Poverty Level then the match is 75 cents for each $1.00. For persons with more than 150% of the Federal Poverty Level the match is 50 cents for each $1.00.
[12] Texas allows an individual up to $2,000 in deposits matched by TANF funds each year (per account per year of income). There is no limit on matched funds from other sources. (4:1 for initial deposit; 1:1 for added deposit.)
[13] Vermont allows savings of $500 for an individual for a calendar year and $1,000 for a family. Lifetime limit maximum is $2,000 for an individual and $4,000 for a family.

This document was last modified on Mar-21-2005 .

Source: http://www.acf.hhs.gov/programs/ofa/annualreport6/chapter12/chap12.htm