Sec. 8. (a) This section applies only to an eligible applicant who attends a state educational institution.

     (b) The amount of the exemptions under this chapter is equal to one (1) of the following amounts:

(1) If the applicant does not receive financial assistance specifically designated for educational costs, the amount determined under sections 2 through 6 of this chapter.

(2) If the applicant receives any financial assistance, including federal assistance, specifically designated for educational costs:

(A) the amount determined under sections 2 through 6 of this chapter; minus

(B) the financial assistance specifically designated for educational costs.

[Pre-2007 Higher Education Recodification Citation: 20-12-19-2.]

As added by P.L.2-2007, SEC.255. Amended by P.L.169-2011, SEC.20; P.L.112-2019, SEC.13; P.L.240-2023, SEC.9.