Ind. Code ch. 5-34-3

Ind. Code ch. 5-34-3
in effect

Ind. Code § 5-34-3-1 Determination of income tax liability compared to base year

Sec. 1. For each individual who receives a financial assistance award from the fund, the department shall, in each of the ten (10) taxable years following the taxable year in which the individual graduates from the qualified education program, determine the difference between the individual's base year state income tax liability and the amount of state income tax liability the individual paid in that particular taxable year. As added by P.L.165-2021, SEC.65.

Ind. Code § 5-34-3-2 Transfers for deposit in the fund

Sec. 2. If the amount determined in section 1 of this chapter for a particular taxable year is greater than zero (0), the department shall transfer an amount equal to the amount determined in section 1 of this chapter to INvestED Indiana for deposit in the fund. As added by P.L.165-2021, SEC.65.

Ind. Code § 5-34-3-3 Information sharing

Sec. 3. A qualified education program and INvestED Indiana shall provide the department any information necessary for the department to carry out this chapter. The information shared under this section may be used only to make the determinations required by this chapter. As added by P.L.165-2021, SEC.65.

Ind. Code § 5-34-3-4 Rules

Sec. 4. The department may adopt rules under IC 4-22-2 necessary to implement this chapter. As added by P.L.165-2021, SEC.65.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026