Section 14. Eligible Account Owners

A. To participate as an account owner in an individual development account program approved by the director an individual, at the time of application, shall be a member of a household located in New Mexico whose adjusted gross income is not in excess of 200 percent of the federal poverty guidelines and shall: (1) have earned income; (2) be eighteen years of age or older; and (3) be a citizen or legal resident of the United States. B. A child in foster care is an eligible individual if he: (1) is sixteen years of age or older; (2) has earned income that is no more than 200 percent of the federal poverty guidelines when the child's income is evaluated separately from the income of his foster household; (3) is a citizen or legal resident of the United States; and (4) is a resident of New Mexico.