§ 21-12-3-6 — Financial resources available to student

Indiana § 21-12-3-6

• Jurisdiction: Indiana
• Title 21: HIGHER EDUCATION
• Art. 12: GENERAL SCHOLARSHIPS AND GRANTS
• Ch. 3: Higher Education Awards

Text

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.
[Pre-2007 Higher Education Recodification Citation:
20-12-21-6.2.]

Legislative History

As added by P.L.2-2007, SEC.253.