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.
As added by P.L.15-2001, SEC.1.