Connecticut Administrative Code
Title 31 - Labor
51ddd - Individual Development Accounts Program
Section 31-51ddd-1 - Definitions
Current through December 12, 2024
As used in sections 31-51ddd-1 through 31-51ddd-16, inclusive, of the Regulations of Connecticut State Agencies:
(1) "Account Holder" means "account holder" as defined in section 31-51ww of the Connecticut General Statutes;
(2) "Adjusted gross income" means "adjusted gross income" as defined in subsection (a) of section 12-701 of the Connecticut General Statutes;
(3) "Approved plan" means "approved plan" as defined in section 31-51ww of the Connecticut General Statutes;
(4) "Area median income" means "area median income" as defined in section 31-51ww of the Connecticut General Statutes;
(5) "Certified state IDA program" or "program" means "certified state IDA program" as defined in section 31-51ww of the Connecticut General Statutes;
(6) "Clearinghouse" means "clearinghouse" as defined in section 31-51ww of the Connecticut General Statutes;
(7) "Community-based organization" means "community-based organization" as defined in section 31-51ww of the Connecticut General Statutes;
(8) "Department" means the Labor Department;
(9) "Earned income" means any compensation payable by an employer to an employee, including but not limited to wages, salaries, commissions, bonuses, and tips, earnings from self-employment or contractual agreements, and Earned Income Tax Credit refunds.
(10) "Education" means "education" as defined in section 31-51ww of the Connecticut General Statutes;
(11) "Emergency withdrawal" means a withdrawal by an account holder from those funds deposited by the account holder in his individual development account due to a personal crisis, including but not limited to, illness, eviction, potential foreclosure, job loss or urgent family reasons;
(12) "Entrepreneurial activity" means "entrepreneurial activity" as defined in section 31-51ww of the Connecticut General Statutes;
(13) "Federal poverty level" means "federal poverty level" as defined in section 31-51ww of the Connecticut General Statutes;
(14) "Financial institution" means "financial institution" as defined in section 31-51ww of the Connecticut General Statutes;
(15) "Household" means "household" as defined in section 31-51ww of the Connecticut General Statutes;
(16) "Individual development account" or "IDA" means "individual development account" as defined in section 31-51ww of the Connecticut General Statutes;
(17) "Individual Development Account Reserve Fund" means "Individual Development Account Reserve Fund" as defined in section 31-51ww of the Connecticut General Statutes;
(18) "Job training" means "job training" as defined in section 31-51ww of the Connecticut General Statutes; and
(19) "Qualified disabled individual" means "qualified disabled individual" as defined in section 31-51ww of the Connecticut General Statutes.
