Ca. Gov. Code § 95502 Definitions

• Library: California Codes
• Edition: 2023 Edition
• Currency: Current through the 2023 Legislative Session.
• Year: 2023
• Citation: Ca. Gov. Code § 95502

For purposes of this title, the following definitions apply:

(a) "Community development credit union" means any credit union chartered under federal or state law.

(b) "Community development financial institution" means any community development financial institution certified by the Community Development Financial Institution Fund.

(c) "Department" means the Employment Development Department.

(d) "Indian tribe" means any Indian tribe, as defined in Section 4(12) of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. Sec. 4103(12)) , and includes any tribal subsidiary, subdivision, or other wholly owned tribal entity.

(e) "Individual development account" means a matched savings account held in a financial institution, created or organized for an individual as part of an individual development account program earmarked for specific asset-building purposes.

(f) "Nonprofit facilitator" means the nonprofit organization exempt from taxation under Section 501(c)(3)(c)(3) of the Internal Revenue Code that contracts with the department for the project.

(g) "Participant" means any individual who has contracted with a service provider to participate in the California Savings and Asset Project.

(h) "Project" means the California Savings and Asset Project.

(i) "Qualified business capitalization" means qualified business expenditures for the capitalization of a qualified business pursuant to a qualified plan.