Indiana Code 4-4-28-14. Interest; taxes; fees

Sec. 14. (a) An account must earn interest at a rate that is competitive in the county where the account is located.

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account: refers to an individual development account. See Indiana Code 4-4-28-1
Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5

(b) Interest earned on an account during a taxable year is not subject to taxation under IC 6-3 or IC 6-5.5.

As added by P.L.15-1997, SEC.1. Amended by P.L.192-2002(ss), SEC.2; P.L.50-2016, SEC.8.