GroundRules
GOV § 95507
Where this section sits in the code
- Government Code - GOV
- TITLE 13. CALIFORNIA SAVINGS AND ASSET PROJECT [95500. - 95508.]
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.
Collected 2026-09-14T05:56:33Z. Source file · JSON