‘‘(B) with a balance of not less than $100 
(other than the taxable year in which such Ac-
count is opened). 
‘‘(d) ELIGIBLE ENTITY.—For purposes of this sec-
tion, except as provided in regulations, the term ‘eligible 
entity’ means a qualified financial institution. 
‘‘(e) OTHER DEFINITIONS.—For purposes of this 
section, any term used in this section and also in the Sav-
ings for Working Families Act of 2013 shall have the 
meaning given such term by such Act. 
‘‘(f) DENIAL OF DOUBLE BENEFIT.— 
‘‘(1) IN
GENERAL.—No deduction or credit 
(other than under this section) shall be allowed 
under this chapter with respect to any expense 
which— 
‘‘(A) is taken into account under sub-
section (c)(1)(A) in determining the credit 
under this section, or 
‘‘(B) is attributable to the maintenance of 
an Individual Development Account. 
‘‘(2) DETERMINATION OF AMOUNT.—Solely for 
purposes of paragraph (1)(B), the amount attrib-
utable to the maintenance of an Individual Develop-
ment Account shall be deemed to be the dollar 
amount of the credit allowed under subsection 
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(c)(l)(B) for each taxable year such Individual De-
velopment Account is maintained. 
‘‘(g) CREDIT MAY BE TRANSFERRED.— 
‘‘(1) IN
GENERAL.—An eligible entity may 
transfer any credit allowable to the eligible entity 
under subsection (a) to any person other than to an-
other eligible entity which is exempt from tax under 
this title. The determination as to whether a credit 
is allowable shall be made without regard to the tax- 
exempt status of the eligible entity. 
‘‘(2) CONSENT REQUIRED FOR REVOCATION.— 
Any transfer under paragraph (1) may be revoked 
only with the consent of the Secretary. 
‘‘(h) REGULATIONS.—The Secretary may prescribe 
such regulations as may be necessary or appropriate to 
carry out this section, including— 
‘‘(1) such regulations as necessary to insure 
that any credit described in subsection (g)(1) is 
claimed once and not retransferred by a transferee, 
and 
‘‘(2) regulations providing for a recapture of 
the credit allowed under this section (notwith-
standing any termination date described in sub-
section (i)) in cases where there is a forfeiture under 
section 7(b) of the Savings for Working Families 
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Act of 2013 in a subsequent taxable year of any 
amount which was taken into account in determining 
the amount of such credit. 
‘‘(i) APPLICATION OF SECTION.— 
‘‘(1) IN GENERAL.—This section shall apply to 
any expenditure made in any taxable year ending 
after December 31, 2013, and beginning on or be-
fore January 1, 2021, with respect to any Individual 
Development Account which— 
‘‘(A) is opened before January 1, 2019, 
and 
‘‘(B) as determined by the Secretary, when 
added to all of the previously opened Individual 
Development 
Accounts, 
does 
not 
exceed 
2,700,000 Accounts. 
Notwithstanding the preceding sentence, this section 
shall apply to amounts which are described in sub-
section (c)(1) and which are timely deposited into a 
parallel account during the 30-day period following 
the end of the last taxable year beginning on or be-
fore January 1, 2019. 
‘‘(2) DETERMINATION
OF
LIMITATION.—The 
limitation on the number of Individual Development 
Accounts under paragraph (1)(B) shall be allocated 
by the Secretary among eligible individuals as such 
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individuals open such Accounts under qualified indi-
vidual development account programs, except that, 
in the case of 300,000 Accounts, such limitation 
shall be equally allocated among the States.’’. 
(b) CREDIT TREATED AS BUSINESS CREDIT.—Sec-
tion 38(b) of such Code (relating to current year business 
credit) is amended by striking ‘‘plus’’ at the end of para-
graph (35), by striking the period at the end of paragraph 
(36) and inserting ‘‘, plus’’, and by adding at the end the 
following new paragraph: 
‘‘(37) the individual development account in-
vestment credit determined under section 45S(a).’’. 
(c) CONFORMING AMENDMENT.—The table of sec-
tions for subpart C of part IV of subchapter A of chapter 
1 of such Code is amended by adding at the end the fol-
lowing new item: 
‘‘Sec. 45S. Individual development account investment credit.’’. 
(d) REPORT REGARDING ACCOUNT MAINTENANCE 
FEES.—The Secretary of the Treasury shall study the 
adequacy of the amount specified in section 45S(c)(2) of 
the Internal Revenue Code of 1986 (as added by this sec-
tion). Not later than December 31, 2014, the Secretary 
of the Treasury shall report the findings of the study de-
scribed in the preceding sentence to Congress. 
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(e) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years ending after De-
cember 31, 2013. 
SEC. 12. ACCOUNT FUNDS DISREGARDED FOR PURPOSES 
OF CERTAIN MEANS-TESTED FEDERAL PRO-
GRAMS. 
Notwithstanding any other provision of Federal law 
(other than the Internal Revenue Code of 1986) that re-
quires consideration of 1 or more financial circumstances 
of an individual, for the purpose of determining eligibility 
to receive, or the amount of, any assistance or benefit au-
thorized by such provision to be provided to or for the 
benefit of such individual, any amount (including earnings 
thereon) in any Individual Development Account of such 
individual and any matching deposit made on behalf of 
such individual (including earnings thereon) in any par-
allel account shall be disregarded for such purpose with 
respect to any period during which such individual main-
tains or makes contributions into such Individual Develop-
ment Account. 
Æ 
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