Utah Code Title 35A. Utah Workforce Services Code § 35A-3-312. Individual development accounts

(a) “Individual development account” means a trust account funded through periodic contributions by a recipient and matched by or through a not-for-profit organization organized under Section 501(c)(3), Internal Revenue Code. 1

(b) “Qualified acquisition costs” means the costs of acquiring, constructing, or reconstructing a residence, including settlement and closing costs.

(c) “Qualified businesses capitalization expenses” means expenditures for capital, plant, equipment, working capital, and inventory.

(a) postsecondary educational expenses, including tuition, fees, books, supplies, and transportation costs, if:

(b) qualified acquisition costs associated with a first-time home purchase if paid from the individual development account directly to a person to whom the amount is due;

(c) amounts paid from an individual development account directly to a business capitalization account that is established in a federally insured financial institution and used solely for qualified business capitalization expenses; or

(d) the purchase of assistive technologies, vehicle modifications, or home improvements to allow a recipient with a disability to participate in work-related activities.