1. (a) As used in this section, "account beneficiary" has the meaning set forth in IC 21-9-2-3 .
2. (b) As used in this section, "account owner" has the meaning set forth in IC 21-9-2-4 .
3. (c) As used in this section, "individual account" has the meaning set forth in IC 21-9-2-2 .
4. (d) As used in this section, "qualified higher education expenses" has the meaning set forth in IC 21-9-2-19.5 .
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.