Sec. 24. (a) This section applies to a taxable year beginning after December 31, 2013.
(b) As used in this section, "international committee" refers to the International Olympic Committee and the International Paralympic Committee.
(c) As used in this section, "Olympic games" refers to an international sports competition conducted every two (2) years by an international committee, including both the summer and winter games.
(d) As used in this section, "Olympic medal" refers to a gold, silver, or bronze medal won by an individual competing at the Olympic games.
(e) An individual is entitled to an exemption from the adjusted gross income tax imposed under this article equal to the sum of:
(1) the value of an Olympic medal won during the taxable year; plus
(2) the amount of income received during the taxable year from the United States Olympic Committee as prize money for winning the Olympic medal.
As added by P.L.87-2014, SEC.3.
Structure Indiana Code
Chapter 2. Imposition of Tax and Deductions
6-3-2-0.3. Intent of General Assembly Adding Section 2.3 of This Chapter
6-3-2-1. Tax Rate; Calculations Required for Purposes of Determining Tax Rate
6-3-2-2.2. Interest Income, Discounts, and Receipts Attributable to State
6-3-2-2.3. In-State Commercial Printing for Out-of-State Customer
6-3-2-2.5. Resident Persons; Net Operating Loss; Adjusted Gross Income
6-3-2-2.5-b. Resident Persons; Net Operating Loss; Adjusted Gross Income
6-3-2-2.6. Corporations and Nonresident Persons; Net Operating Losses
6-3-2-2.6-b. Corporations and Nonresident Persons; Net Operating Losses
6-3-2-2.7. Team Members; Indiana Income; Rules
6-3-2-3.1. Taxation; Nonprofit Entities; Unrelated Business Income
6-3-2-3.2. Indiana Income of Race Team Members
6-3-2-3.5. Exemption; Fares for Public Transportation Services
6-3-2-3.7. Remainder of Federal Civil Service Annuity Minus Certain Retirement Benefits; Deduction
6-3-2-4. Military Service Deduction; Retirement Income or Survivor's Benefits Deduction
6-3-2-6. Deduction; Rent Payments
6-3-2-8. Enterprise Zone Employers; Exemption From Deduction
6-3-2-9. Disability Retirement; Deduction; Amount
6-3-2-10. Unemployment Compensation; Deduction
6-3-2-11. Deductions From Adjusted Gross Income; Federal Employee Paid Leave
6-3-2-12. Foreign Source Dividends; Deduction; Computation
6-3-2-14.1. Prize Money Accruing Before July 1, 2002; Exemption
6-3-2-16. Transactions Between Taxable Entity and Unitary Taxpayer Subject to Ic 6-5.5
6-3-2-19. Distributions for Higher Education; Exemptions
6-3-2-20. Corporations; Intangible Expenses; Directly Related Interest Expenses; Exceptions
6-3-2-21.7. Exemption for Certain Income Derived From Patents
6-3-2-22. Deduction; Unreimbursed Education Expenditures
6-3-2-24. Income Tax Exemption; Olympic Medalist
6-3-2-26. Deduction for Contributions to a Regional Development Authority Infrastructure Fund