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.]
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