(a) An account owner's savings and matching funds shall not affect his or her eligibility for any means-tested public benefits, including, but not limited to, Medicaid, state children's health insurance programs, TANF, Supplemental Nutrition Assistance Program, supplemental security income, or government-subsidized foster care and adoption payments, and child care or housing payments.
(b) Funds deposited in individual development accounts shall not be counted as income, assets, or resources of the account owner for the purpose of determining financial eligibility for assistance or service pursuant to any federal, federally assisted, state, or municipal program based on need.
Structure Code of Alabama
Chapter 14 - Individual Development Account Program.
Section 38-14-1 - Definitions.
Section 38-14-2 - Establishment of Account.
Section 38-14-3 - Matching Funds.
Section 38-14-4 - Withdrawals and Reimbursements.
Section 38-14-5 - Financial Literacy Education.
Section 38-14-6 - Source of Deposits; Limitations on Deposits.
Section 38-14-7 - Exclusion From Gross Income.
Section 38-14-8 - Selection of Fiduciary Organizations.
Section 38-14-9 - Administration of Accounts.
Section 38-14-10 - Eligibility for Means-Tested Public Benefits.