Subject of Possible Rule Making: Development of rules to implement the individual development accounts (IDA) program for low-income individuals including regulations for the use and withdrawal of such accounts by eligible account holders.

     Statutes Authorizing the Agency to Adopt Rules on this Subject: Chapter 43.31 RCW, section 4(6)[, chapter 402, Laws of 2005].

     Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Rules are required by statute to implement and regulate IDA program operations.

     Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: Coordination with the Treasurer's Office is necessary regarding the IDA program account established by statute.

     Process for Developing New Rule:       Negotiated rule making.

     Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Paul Knox, Community Services Division, CTED, P.O. Box 42525, Olympia, WA 98504-2525, (360) 725-4140, paulk@cted.wa.gov. Please contact Paul with any comments, questions and concerns about design and implementation of the program. An IDA advisory group is being established to gain input and ideas from interested parties - first meeting.

July 19, 2005

Sue Mauerman

for Juli Wilkerson

Director

© Washington State Code Reviser's Office