Individual Development Account and Tax Credit Program

Helping Kansans achieve financial self-sufficiency

CONTACT

Rachéll Rowand, Program Manager

(785)-207-4755

Rachell.Rowand@ks.gov

The IDA program provides finical assistance to community charities, tribal and religious entities to help them develop programs in their communities that provide asset acquisition to low-income individuals, through the selling of tax credits. 

The Kansas Department of Commerce oversees the program and allocates up to $500,000 in state income tax credits each calendar year. We also partner with Kansas Department of Revenue to administer the tax credits for qualified program contributors.

How IDA Benefits the Community

IDA allows administering organizations to provide qualified Kansans of low-income levels the opportunity to achieve financial self-sufficiency through education and asset development via special savings accounts that receive a 3:1 match on every dollar they save. Kansans with higher income levels have the opportunity to help others achieve financial independence by contributing to the program while receiving a 75% income tax credit for their donation to the program.

Program recipients can use the accrued savings to:

Purchase a first home

Pay for home repairs

Capitalize a small business

Pay for college or specialized training

Want to Learn More About Tax Credit and Financing?