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Arkansas Statutes, Title 20

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Arkansas/Statutes

← All Arkansas coverage

Title 20, Public Health and Welfare

63 chapters · 2,725 sections in this title.

All chapters in Title 202,725 Ch 77, Medical Assistance241 Ch 16, Reproductive Health215 Ch 10, Long-Term Care Facilities and Services191 Ch 13, Emergency Medical Services151 Ch 17, Death and Disposition of the Dead139 Ch 27, Miscellaneous Health and Safety Prov…130 Ch 15, Disease and Disease Prevention Generally114 Ch 9, Health Facilities and Services Generally112 Ch 64, Alcohol and Drug Abuse106 Ch 7, State Board of Health — Department o…96 Ch 76, Public Assistance Generally92 Ch 47, Treatment of Persons With Mental Illness83 Ch 22, Fire Prevention, Protection, and Safety81 Ch 48, Treatment of Persons With Developmen…74

13 sections·Filtered byTitle 20✕Ch 86✕

Ark. Code Ann. § 20-86-101 Title
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This act shall be known and may be cited as the “Family Savings Initiative Act”.
Ark. Code Ann. § 20-86-102 Declaration
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(1) The General Assembly hereby finds that:(1) Americans of most economic classes are having increasing difficulty climbing the economic ladder. Fully half of all Americans have negligible or no investable assets just as the price of entry to the economic mainstream such as the c…
Ark. Code Ann. § 20-86-103 Purpose
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(1) The purpose of this act is to provide for the establishment of individual development accounts designed to:(1) Provide individuals and families with limited means an opportunity to accumulate assets;(2) Facilitate and mobilize savings;(3) Promote home ownership, microenterpri…
Ark. Code Ann. § 20-86-104 Definitions
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(1) As used in this subchapter:(1) (A) “Administrative costs” includes, but is not limited to, soliciting matching funds, processing fees charged by the fiduciary organization or financial institution, and traditional overhead costs.(B) Administrative costs shall be limited to no…

Ark. Code Ann. § 20-86-105 Proposals

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(a) (1) The Division of Workforce Services shall enter into contracts with one (1) or more fiduciary organizations pursuant to the provisions of this section in such a manner that different regions of the state are served by one (1) or more fiduciary organizations.(2) (A) An orga…

Ark. Code Ann. § 20-86-106 Individual development account

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(a) (1) An individual who is a resident of this state may submit an application to open an individual development account to a fiduciary organization approved by the Division of Workforce Services pursuant to the provisions of § 20-86-105.(2) The fiduciary organization shall appr…

Ark. Code Ann. § 20-86-107 Individual development account — Purpose

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(a) Individual development accounts may be used for any of the following qualified purposes:(1) Qualified acquisition costs with respect to a qualified principal residence for a qualified first-time home buyer or the costs of major repairs or improvements to a qualified principal…

Ark. Code Ann. § 20-86-108 Penalty

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(a) (1) If the fiduciary organization receives evidence that moneys withdrawn from individual development accounts are withdrawn under false pretenses or are used for purposes other than for the approved purposes indicated at the time of the withdrawal, the fiduciary organization…

Ark. Code Ann. § 20-86-109 Matching funds

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(a) (1) Any individual, business, organization, or other entity may contribute matching funds to a fiduciary organization.(2) The funds shall be designated to the fiduciary organization to allocate to participants who meet the requirements in § 20-86-106. (1) Any individual, busi…

Ark. Code Ann. § 20-86-110 Effect on other programs

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Funds deposited into an individual development account shall not be counted as income, assets, or resources of the individual in determining financial eligibility for assistance or services pursuant to any federal, federally assisted, state, or municipal program based on need.

Ark. Code Ann. § 20-86-111 Reporting requirements

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(1) Each fiduciary organization shall provide quarterly to the Division of Workforce Services the following information:(1) The number of individuals making deposits into an individual development account;(2) The amounts deposited into the individual development account;(3) The a…

Ark. Code Ann. § 20-86-112 Implementation

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The Division of Workforce Services shall be responsible for implementation of this subchapter and shall promulgate rules as necessary in accordance with the provisions of this subchapter.

Ark. Code Ann. § 20-86-113 Reports — Recommendations

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(a) The Division of Workforce Services shall prepare a written report annually regarding the implementation of this act and shall make recommendations for improving the program. (b) The report shall be transmitted to the General Assembly on or before August 1 of each year.