Establishment of Opportunity Account Office

The Mayor shall establish in the executive branch an office to be known as the Opportunity Account Office. The office shall: (1) Provide eligible families and individuals with an opportunity to establish opportunity accounts; (2) Provide that the opportunity account shall be established by an approved financial institution and administered by an approved organization; (3) Provide incentives to encourage participation in the program; and (4) Require that money deposited into an opportunity account shall be used only for approved purposes.