541A.5 Rules.
1. The commission on community action agencies created in section 216A.92A, in consultation with the department of administrative services, shall adopt administrative rules to administer this chapter.
2. a. The rules adopted by the commission shall include but are not limited to provision for transfer of an individual development account to a different financial institution than originally approved by the administrator, if the different financial institution has an agreement with the account’s operating organization.
b. The rules for determining household income may provide categorical eligibility for prospective account holders who are enrolled in programs with income eligibility restrictions that are equal to or less than the maximum household income allowed for payment of a state match under section 541A.3.
c. Subject to the availability of funding, the commission may adopt rules implementing an individual development account program for refugees. Rules shall identify purposes authorized for withdrawals to meet the special needs of refugee families.
3. The administrator shall utilize a request for proposals process for selection of operating organizations and approval of financial institutions.
94 Acts, ch 1114, §25; 96 Acts, ch 1106, §14; 2003 Acts, ch 145, §286; 2008 Acts, ch 1178, §14, 17; 2009 Acts, ch 70, §4, 5
Structure Iowa Code
Chapter 541A - INDIVIDUAL DEVELOPMENT ACCOUNTS
Section 541A.2 - Individual development accounts.
Section 541A.3 - Individual development accounts — state savings match and tax provisions.
Section 541A.4 - Individual development account — pilot phase.
Section 541A.6 - Compliance with federal requirements.
Section 541A.7 - Individual development account state match fund.