Invest in yourself, others and Kansas through the Individual Development Account Program.
Program Purpose and Overview –
Visit their website here –https://www.kansascommerce.gov/119/Indiv-Development-Account-Tax-Credit-Pro
The Individual Development Account (IDA) Program allows qualified Kansans of low income levels the opportunity to achieve financial self-sufficiency through education and asset development via special savings accounts. Application
The IDA program allows qualified Kansans of higher income levels the opportunity to help others achieve financial independence while receiving a 75% income tax credit for the donation to the program. Donate Here.
Program participants can use the accrued savings to:
• Purchase a first home
• Pay for home repairs
• Capitalize a small business
• Pay for college or specialized training
IDA program contributors provide the matching funds for participant savings accounts and are eligible receive a Kansas refundable income tax credit valued at 75% of their contribution amount!
The Kansas Department of Commerce (Commerce) oversees the program and allocates up to $500,000 in state income tax credits each calendar year.
• Commerce has designated Interfaith Housing and Community Services, Inc., a community-based organization located in Hutchinson, as the sole provider of IDAs in Kansas.
• Commerce also partners with the Kansas Department of Revenue to administer the tax credits for qualified program contributors.
Business and Community Development Division
1000 S.W. Jackson St.
Topeka, KS 66612
Phone: (785) 296-3345
Monday – Friday
8 a.m. – 5 p.m.