HI SB1108

Adds motor vehicle purchase for school or work transportation as a qualified expenditure for individual development accounts, alongside homeownership, post-secondary education, vocational training, and small business capitalization.

Amends income eligibility requirements, allowing the department of human services to determine household income limits instead of the fixed eighty percent of area median income threshold.

Removes the $100,000 annual cap on state matching funds and eliminates the 2:1 match ratio limitation, allowing the department to establish specific match ratios for different qualified expenditures.

Requires fiduciary organizations to submit annual reports to the department and grants the department authority to determine report content and program evaluation standards.

Appropriates unspecified general revenues for fiscal years 2011-2012 and 2012-2013 to support fiduciary organizations operating individual development account programs.