Governor: Hoosiers could get additional tax return

Governor Eric Holcomb proposes returning $1 billion of state reserves to Hoosier taxpayers.
Governor Eric Holcomb proposes returning $1 billion of state reserves to Hoosier taxpayers.(AP)
Published: Jun. 9, 2022 at 10:54 AM EDT
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FORT WAYNE, Ind. (Fort Wayne’s NBC) - Governor Eric Holcomb proposed returning $1 billion of state reserves to eligible Hoosier taxpayers.

In a statement from the governor’s office on Thursday, citing higher than expected revenue performance this year, Hoosier taxpayers would get an additional $225 from the state’s automatic taxpayer refund (ATR). The funds are in addition to the $125 Hoosier taxpayers are already receiving from the ATR, the statement said. Each Hoosier taxpayer would receive about $350, and married couples, filing jointly, would collect about $700.

The state’s revenues for May, which were released today, were $209 million over the forecast, and revenues for 11 months of the fiscal year are $1.075 billion over the forecast, the statement said.

Governor Holcomb has outlined his plan with legislative leaders and hopes to call a special session before the end of June, the statement said.

If the proposal is approved, the governor’s office says, the money would show up in eligible Hoosier bank accounts like the current ATR, the statement said. Hoosier taxpayers getting paper checks will start receiving them in August.

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