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History of IDAs in DCIn 2001 the District of Columbia enacted an IDA law that received $200,000 in funding from the DC City Council. CAAB has supported IDAs with private and federal funds since 1997. The enactment and funding of DC’s Opportunities Account Act will greatly advance IDA programs in the District. The benefits of IDAs in DC are great.
Council member David Catania introduced IDA legislation in the DC City Council. CFED, Citibank, CAAB, its member organizations, and several IDA participants testified before the City Council. CAAB staff worked with Mr. Catania’s office on redrafting the bill to reflect best practices from the field and the particular needs of District residents. The bill became law In April 2001 when approved by Congress. The outline of Opportunity Account Act’s provisions is:
In 2004 CAAB received the first grant of $200,000 through the Opportunity Accounts Act. |
What's New?CAAB is hiring for two positions: Office Manager and Program Associate. Tarik Cranston, an MDA saver, spoke to US News & World Report about his success at changing financial behaviors. Resources
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