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Tenn. Code Ann. § 71-3-1003

Individual development accounts

Acts 1996, ch. 989, § 3.

In the selected communities, temporary assistance for needy families (TANF) or successor program, recipients may deposit up to five thousand dollars ($5,000) in special savings accounts for career development goals for post-secondary education of themselves or their children, small business development, home ownership purposes or transportation needs. For the period the participant is eligible for the TANF program, or successor program, the individual development account (IDA) shall not be considered when computing the asset limit of the participant when determining the participant's eligibility for the TANF program, or successor program, or food stamps, as permitted by waiver from the federal departments of health and human services and agriculture.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.