Indiana Code 12-15-2-23.5. Implementation of federal Deficit Reduction Act of 2005
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Sec. 23.5. (a) This section is effective beginning October 1, 2009.
(1) A rule adopted may not apply to the transfer of property or another transaction that occurred before the passage of the rule.
(b) In implementing the federal Deficit Reduction Act of 2005, the office shall comply with the following:
Terms Used In Indiana Code 12-15-2-23.5
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(2) The office may not require an individual to return all assets in order to reduce a penalty period for the transfer of assets. The office shall allow a penalty period to be proportionally reduced for a partial return of assets.
As added by P.L.14-2009, SEC.2. Amended by P.L.229-2011, SEC.124.