Ind. Code § 30-2-15-21

Current through P.L. 171-2024

Section 30-2-15-21 - Adjusting net fair market values of assets

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.

IC 30-2-15-21

As added by P.L. 3-2003, SEC.2.