Ihcda individual development credit online 2025

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The document outlines the application process for the Individual Development Account (IDA) Program Tax Credit offered by the Indiana Housing and Community Development Authority (IHCDA). It details eligibility requirements, application submission guidelines, evaluation criteria, and terms and conditions for organizations seeking tax credits to support low-income individuals through matched savings accounts. The application deadline is June 12, 2015, with a funding term from July 1, 2015, to June 30, 2016.

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Are IDA grants real?

The International Development Association (IDA) is the part of the World Bank that helps the worlds low-income countries. IDAs grants and low-interest loans help countries invest in their futures, improve lives, and create safer, more prosperous communities around the world.

What is the Low Income Housing Tax Credit Program in Indiana?

The Indiana LIHTC Program is key to the states plan for affordable housing. It gives developers and investors tax breaks while ensuring low-income families have decent homes. As Indiana continues to deal with housing cost issues, the LIHTC Program will play a big part in helping the states most at-risk people.

Who is eligible for the IDA program?

Program Eligibility Your annual income must be 200% of the Federal Poverty Level ($31,300 for an individual, $42,300 for a couple) or less. Exception: In some cases, you may qualify if your income is 65-85% of the median income in your area.

Can I take money out of my IDA?

Can I Take Money Out of my IDA? Once you reach your savings goal, you can remove money from an IDA with the approval of the trustee.

What is the individual development grant program?

An Individual Development Account (IDA) program is a savings incentive program that provides eligible participants with a matched grant of up to $4 for every $1 that a participant saves.

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What is an individual development fund?

Individual Development Accounts (also called IDAs) are special matched savings accounts designed to help those of modest means establish a pattern of regular savings and, ultimately, purchase a productive asset.

What is IDA credit?

IDA lends money on concessional terms. This means that IDA credits have a zero or very low interest charge and repayments are stretched over 30 to 40 years. More than half of IDA countries receive all, or half, of their IDA resources on grant terms, which carry no repayments at all.

Ihcda individual development credit online 2025

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Are IDA grants real?

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