IC 6-3-2-19: Distributions for higher education; exemptions

Sec. 19. (a) As used in this section, "account beneficiary" has the meaning set forth in IC 21-9-2-3.

(b) As used in this section, "account owner" has the meaning set forth in IC 21-9-2-4.

(c) As used in this section, "individual account" has the meaning set forth in IC 21-9-2-2.

(d) As used in this section, "qualified higher education expenses" has the meaning set forth in IC 21-9-2-19.5.

(e) Distributions from an individual account used to pay qualified higher education expenses are exempt from the adjusted gross income tax imposed by IC 6-3-1 through IC 6-3-7 as income of an account beneficiary or an account owner.