§ 15.1876

15-1876. Higher education expenses; exemption from taxation Notwithstanding any other law, the amount of any distribution to a designated beneficiary, as defined in section 529(e)(1) of the internal revenue code, from an individual trust account or savings account established under this article is exempt from taxation under title 43 but only to the extent that this income is used to pay qualified higher education expenses of the designated beneficiary.