Sec. 21. For purposes of section 16 of this chapter, the net fair market values of the assets held in trust on the first business day of a proper valuation year shall be adjusted to reflect any: (1) reduction, in the case of a distribution or payment; or (2) increase, in the case of a receipt; for the prior valuation year as if the distribution, payment, or receipt had occurred on the first day of the prior valuation year.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.