Tennessee § 71-3-1003 Individual development accounts

Tennessee Statutes

§ 71-3-1003 — Individual development accounts

Tennessee § 71-3-1003

Title71

This text of Tennessee § 71-3-1003 (Individual development accounts) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 71-3-1003 (2026).

Text

In the selected communities, temporary assistance for needy families (TANF) or successor program, recipients may deposit up to five thousand dollars ($5,000) in special savings accounts for career development goals for post-secondary education of themselves or their children, small business development, home ownership purposes or transportation needs. For the period the participant is eligible for the TANF program, or successor program, the individual development account (IDA) shall not be considered when computing the asset limit of the participant when determining the participant's eligibility for the TANF program, or successor program, or food stamps, as permitted by waiver from the federal departments of health and human services and agriculture.

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In the selected communities, temporary assistance for needy families (TANF) or successor program, recipients may deposit up to five thousand dollars ($5,000) in special savings accounts for career development goals for post-secondary education of themselves or their children, small business development, home ownership purposes or transportation needs. For the period the participant is eligible for the TANF program, or successor program, the individual development account (IDA) shall not be considered when computing the asset limit of the participant when determining the participant's eligibility for the TANF program, or successor program, or food stamps, as permitted by waiver from the federal departments of health and human services and agriculture.