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Indiana Code Title 21. Higher Education § 21-12-3-6

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 6. In determining the financial resources available to a student for a higher education award, the commission may not consider principal or interest, including an original issue discount that qualifies as interest excludable from gross income for federal income tax purposes, on a bond that is:

(1) issued by a:

(A) public body corporate and politic of the state;  or

(B) state educational institution;

designated by the governor as a college savings bond and purchased after December 31, 1989;  or

(2) a United States savings bond purchased after December 31, 1989, if the interest is claimed as exempt from federal taxation under Section 135 of the Internal Revenue Code.

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Cite this article: FindLaw.com - Indiana Code Title 21. Higher Education § 21-12-3-6 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-21-higher-education/in-code-sect-21-12-3-6/

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