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Account	Description	FY07 GAA	FY08 GAA
7004-9317	Individual Development Account Program For the Individual Development Account (IDA) program; provided, that households residing in state-subsidized housing, as defined by the department, shall receive preference for enrollment in the program; provided further, that funds may be awarded to community-based organizations to establish or support local IDA programs; provided further, that funds may be used for administrative costs to operate an IDA program for financial literacy and asset-specific training and as a match for program participant savings for qualified acquisition costs with respect to a qualified principal residence for a qualified first-time homebuyer, as defined by the department; provided further, that the department may determine other qualified match uses consistent with the guidelines established in federal IDA guidelines pursuant to 42 USC 604; and provided further, that funds may be used to secure federal asset building programs funds	500,000	600,000

 
 

HISTORICAL SPENDING CATEGORIES ($000)

SPENDING CATEGORY	FY04 Spending	FY05 Spending	FY06 Spending	FY07 Spending	FY08 GAA
Aid to Cities & Towns	0	0	0	500	600
TOTAL	0	0	0	500	600

* FY07 Projected Spending includes the budget plus nearly $1 billion in spending from FY06 supplemental budgets.