Iowa Code 541A.5 – Rules
Current as of: 2023 | Check for updates
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1. The commission on community action agencies created in section 216A.92A, in consultation with the department of administrative services, shall adopt administrative rules to administer this chapter.
Terms Used In Iowa Code 541A.5
- Account: means the same as defined in section 554. See Iowa Code 554E.1
- Commission: means the real estate commission as established by chapter 543B. See Iowa Code 543C.1
- financial institution: means the same as defined in section 527. See Iowa Code 547A.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2. a. The rules adopted by the commission shall include but are not limited to provision for transfer of an individual development account to a different financial institution than originally approved by the administrator, if the different financial institution has an agreement with the account’s operating organization.
b. The rules for determining household income may provide categorical eligibility for prospective account holders who are enrolled in programs with income eligibility restrictions that are equal to or less than the maximum household income allowed for payment of a state match under section 541A.3.
c. Subject to the availability of funding, the commission may adopt rules implementing an individual development account program for refugees. Rules shall identify purposes authorized for withdrawals to meet the special needs of refugee families.
3. The administrator shall utilize a request for proposals process for selection of operating organizations and approval of financial institutions.