Individual Development Account Tax Credit Program (IDA)
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. An Individual Development Account, also known as an “IDA,” is a savings account for low-income workers that can be used for small-business development, higher education, or purchasing a first home.
Community charities and tribal and religious entities are eligible to develop programs in their communities by selling 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 the Kansas Department of Revenue to administer tax credits for qualified program contributors.