(2) Account holders may not accrue more than $6,000 of matching funds under subsection (1) of this section from state-directed moneys in any 12-month period. A fiduciary organization may designate a lower amount as a limit on annual matching funds. A fiduciary organization shall maintain on deposit sufficient funds to cover the matching deposit agreements for all individual development accounts managed by the organization.
(3) The Housing and Community Services Department shall adopt rules to establish a maximum total amount of state-directed moneys that may be deposited as matching funds into an individual development account.
(4) The Housing and Community Services Department shall provide information to the Department of Revenue about all individual development account contributors that are qualified for a tax credit under ORS 315.271, if required by ORS 315.058. [1999 c.1000 §5; 2001 c.648 §5; 2003 c.280 §19; 2007 c.765 §5; 2015 c.843 §21; 2019 c.483 §24; 2021 c.525 §12]
Note: Section 9 (1), chapter 765, Oregon Laws 2007, provides:
Sec. 9. (1) A credit may not be claimed under ORS 315.271 and 458.690 for tax years beginning on or after January 1, 2028. [2007 c.765 §9; 2015 c.701 §7; 2021 c.525 §7(1)]
Note: See note under 458.670.
Structure 2021 Oregon Revised Statutes
Volume : 13 - Housing, Games, Environment
Chapter 458 - Housing and Community Services Programs; Individual Development Accounts
Section 458.210 - Community development corporations; description.
Section 458.215 - Local capacity building program.
Section 458.220 - Community development corporation grants and assistance; rules.
Section 458.225 - Preference for certain community development corporations.
Section 458.305 - Legislative findings.
Section 458.310 - Housing revitalization program; criteria; rules.
Section 458.352 - Manufactured dwelling park preservation loan program; eligibility; reporting.
Section 458.356 - Manufactured dwelling replacement loans; eligibility; rules.
Section 458.362 - Manufactured housing advisory committee; membership; reporting.
Section 458.366 - Manufactured Home Preservation Fund.
Section 458.375 - Rental housing assistance for very low income elderly persons; rules.
Section 458.377 - Elderly Rental Assistance Fund.
Section 458.390 - Rental assistance program for youth and young adults at risk of homelessness.
Section 458.392 - Long-Term Rent Assistance Fund.
Section 458.405 - Legislative findings.
Section 458.430 - Authority of state to lease property not owned by state.
Section 458.460 - Bidding procedure for multiple applicants.
Section 458.480 - Definitions.
Section 458.485 - Local Innovation and Fast Track Housing Program; rules.
Section 458.490 - Local Innovation and Fast Track Housing Program Fund.
Section 458.510 - Energy Crisis Trust Fund.
Section 458.528 - Policy on homelessness.
Section 458.530 - Policy on hunger.
Section 458.532 - Hunger Task Force.
Section 458.545 - Task force powers and duties.
Section 458.600 - Policy and intent.
Section 458.610 - Definitions for ORS 458.600 to 458.665; rules.
Section 458.620 - Oregon Housing Fund; subaccounts.
Section 458.625 - Housing Development Grant Program; uses; policies.
Section 458.650 - Emergency Housing Account; grant policies.
Section 458.655 - Home Ownership Assistance Account; grant preferences.
Section 458.658 - Assistance for organizations supporting homeownership for persons of color.
Section 458.660 - Agricultural Worker Housing Development Account.
Section 458.665 - General Housing Account; rules.
Section 458.670 - Definitions for ORS 458.670 to 458.700.
Section 458.675 - Legislative findings.
Section 458.680 - Persons qualifying as account holders.
Section 458.690 - Required account features; rules.
Section 458.695 - Selection of fiduciary organizations.
Section 458.700 - Authority of fiduciary organizations; rules.
Section 458.705 - Legislative findings.
Section 458.720 - Community Development Incentive Project Fund; purpose; lottery bond proceeds.
Section 458.725 - Fund appropriation and expenditure guidelines.
Section 458.730 - Department use of financing mechanisms; determination of funding adequacy.
Section 458.735 - Department review of projects; lending criteria.