Individual Development Accounts: A strategy for fostering social and economic participation. Asset Development & Tax Policy 2004 Disability Program Navigator Series October 21, 2004 Tobey Davies, School of Community Economic Development. Introduction. Asset Building policies
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Asset Development & Tax Policy
2004 Disability Program Navigator Series
October 21, 2004
Tobey Davies, School of Community Economic Development
“Few people have spent their way out of being poor. Those who do do so by saving and investing for long term goals.”
Earned Income Tax Credit
Even workers whose earnings too small to have paid credit, can still get EITC.
- employer-paid disability benefits qualify as earned income
- Adult children may qualify as “qualifying child” & also meet Child tax credit.
*Not owned by beneficiaries
For a period of 9 months….
Effective June 2004, disregarding:
Not counting as a resource in SSI for 9 months
Individual Development Accounts
To serve as a catalyst, leveraging financial, human, and civic resources to enable traditionally under-served people to participate more fully in NH economy.
AFIA-funded Statewide IDA Collaborative designed to help eligible low income workers of New Hampshire achieve the dream of homeownership, post-secondary education or small business startup/development.
Program rules/updates are discussed at Quarterly Community Partner Meetings
NHCLF Provides no operational dollars to the partners to run the ProgramNH Statewide IDA Collaborative highlights….
Self Help Groups Program.
Credit UnionMoney Works Infrastructure
$ CDFI $
Affordable Housing Group
Center for CED and Disability
School of CED/SNHU
2500 No. River Road
Manchester, NH 03106-1045