California Statutes
§ 95507. — 95507. (Added by Stats. 2002, Ch. 1024, Sec. 2.)
California § 95507.
JurisdictionCalifornia
Code GOVGovernment Code - GOV
Title 13.TITLE 13. CALIFORNIA SAVINGS AND ASSET PROJECT
This text of California § 95507. (95507. (Added by Stats. 2002, Ch. 1024, Sec. 2.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Cal. Government Code - GOV Code § 95507. (2026).
Text
Pursuant to Internal Revenue Service Ruling 99-44, interest earned on funds deposited in the individual development account by the participant is taxable to the participant in the year it is earned, and funds matched to an individual development account are considered a gift at the time they are paid and, therefore, are not considered taxable income to the participant.
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Legislative History
Added by Stats. 2002, Ch. 1024, Sec. 2. Effective January 1, 2003. Conditionally operative as prescribed in Section 95501.
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Bluebook (online)
California § 95507., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/GOV/95507..