Sec. 7. A trust is entitled to a credit under section 1, 2, 5, or 6 of this chapter for real property owned by the trust and occupied by an individual if the county auditor determines that the individual: (1) upon verification in the body of the deed or otherwise, has either: (A) a beneficial interest in the trust; or (B) the right to occupy the real property rent free under the terms of a qualified
personal residence trust created by the individual under United States Treasury Regulation 25.2702-5(c)(2); and (2) otherwise qualifies for the credit. As added by P.L.157-2026, SEC.98.