The purpose of the Family Savings Initiative 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, microenterprise development, education, saving for retirement, and automobile purchase; and
4. Stabilize families and build communities.
Added by Laws 1998, c. 429, § 2, eff. Nov. 1, 1998.