Indiana Code 16-18-2-69.5. “Contributions”
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Indiana Code 16-18-2-69.5
- Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
- Donor: The person who makes a gift.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Sec. 69.5. “Contributions”, for purposes of IC 16-21-6 and IC 16-21-9, means the dollar value of cash donations and the fair market value at the time of donation of in kind donations to the hospital from individuals, organizations, or other entities. The term does not include the value of a donation designated or otherwise restricted by the donor for purposes other than charity care.
As added by P.L.94-1994, SEC.5.