The "individual development fund" is created in the state treasury. The fund shall consist of appropriations, gifts, grants, donations and bequests made to the fund. Income from the fund shall be credited to the fund, and money in the fund shall not be transferred to any other fund at the end of a fiscal year. Money in the fund is appropriated to the office for the purposes of carrying out the provisions of the Individual Development Account Act. Expenditures shall be made on warrant of the secretary of finance and administration pursuant to vouchers signed by the director or the director's designee.
History: Laws 2006, ch. 96, § 13; 2007, ch. 349, § 13.
Effective dates. — Laws 2006, ch. 96, § 18 makes the act effective July 1, 2006.
The 2007 amendment, effective July 1, 2007, changes the title of the act and changes the name of the fund from the "family opportunity fund" to the "individual development fund".
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