Specifications include, but are not limited to: The Kansas Department of Commerce (Commerce) requests proposals from qualified community-based organizations to implement the Individual Development Account Program (the Program) and administer an individual development account reserve fund on a not-for-profit basis as set forth in the Individual Development Account Program Act established under K.S.A. 74-50,201 through 74-50,208 (the Act) on behalf of Commerce. The selected organizations (the Contractors) shall provide services to and meet with the appointed representative from Commerce regarding Program matters. The Individual Development Account (IDA) Program allows qualified Kansans of low-income levels the opportunity to achieve financial self-sufficiency through education and asset development via special savings accounts. IDA program participants must meet income and asset guidelines and complete a money management course before they can open a special savings account that is eligible for a match provided by a community-based organization at a one-to-one ratio up to a three-to-one ratio for every dollar they save. Program participants can use the accrued savings to: • Purchase a first home • Pay for home repairs • Capitalize a small business • Pay for college or specialized training Contractors will be responsible for providing or raising the funds necessary for matching contributions to individual development accounts and maintaining records of the names of program contributors and the total amount each contributor contributes to the individual development account reserve fund in each calendar year. IDA program contributors provide the matching funds for participant savings accounts and are eligible to receive a Kansas refundable income tax credit valued at 75% of their contribution amount. Selected organizations will submit program contributor information to the department of Commerce annually for the purpose of administering the tax credit. The Kansas Department of Commerce (Commerce) oversees the program and allocates up to $500,000 in state income tax credits among selected Contractor(s) each calendar year. Tax credits will be authorized to Contractor(s) on an annual basis and expire on December 31 of the year in which they are authorized. The maximum amount of tax credit that a community-based organization may receive each fiscal year shall not exceed $100,000. However, if the aggregate amount of requests for tax credits by community-based organizations is less than $500,000, additional tax credits may be awarded by Commerce to a previously selected Contractor. Contractors may choose to submit a proposal to administer a statewide program or a portion of the program on a regional basis. In the event Contractors propose to operate the program on a regional basis, multiple contractors may be selected.