A special IDA program for foster youth is established to serve:

(1) A person who is fifteen years of age or older who is a dependent of the department of social and health services (DSHS); or

(2) A person who is at least fifteen years of age, but not more than twenty-three years of age, who was a dependent of DSHS for at least twenty-four months after the age of thirteen.

Foster youth IDAs follow the same general rules for operation and responsibilities as the regular low-income IDA program above with the differences noted below.

The state will match eligible savings at a rate up to two dollars for every dollar deposited by a foster youth IDA accountholder into their account. Foster accountholders can earn up to three thousand dollars in state match.

A foster youth IDA may be used for:

• Postsecondary education or job training. Education and training may be provided to the accountholder, their spouse, or a dependent child and must be provided through an educational institution or training provider approved by the Washington state education and training coordinating board. Nonapproved training providers may be granted a purchase waiver by CTED.

• Housing needs. Housing needs include rent, security deposit, and utilities costs and other costs deemed acceptable by the service provider.

• Computer. The purchase of a computer must be determined by the IDA service provider to be necessary for postsecondary education or training.

• Car. The purchase of a vehicle must be determined by the IDA service provider to be necessary for work-related activities.

• Health insurance premiums. Account funds must be used for paying premiums only, not insurance co-pays.

A foster youth participating in the program must contribute to an individual development account and develop an individual savings plan. The contributions may be derived from earned income or other income, as agreed to by CTED and the service provider. Other income shall include financial incentives for educational achievement provided by entities contracted with DSHS for independent living services for foster youth.

CTED has the authority to grant exceptions to rules (as long as they still comply with the statute).