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August state revenues see boost from late income tax payments

Staff Report TheStatehouseFile.com INDIANAPOLIS — State revenue totals for August surpassed estimates despite the COVID-19 pandemic, mostly thanks to $80 million in individual income tax payments that were collected last month. Indiana’s monthly revenue report, released Friday, shows that general fund revenues are still lower than expected when excluding payments that were deferred or late. […]

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State revenues show impact of COVID-19 pandemic

Staff ReportTheStatehouseFile.com INDIANAPOLIS—State revenue collections improved in July, but that’s mainly because $900 million in taxes which had normally been due in April and June were deferred until last month. Indiana’s monthly revenue report, released Friday, shows that the state is still falling short of the funds that were expected when the forecast was made […]

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State ends fiscal year $1.4 billion short of revenue collection goal

By Hope ShrumTheStatehouseFile.com   INDIANAPOLIS — When the revenue forecast for the 2020 fiscal year was given in December, no one could have predicted the worldwide COVID-19 pandemic that emerged this spring would arrive and disrupt Indiana’s budget plans, state officials said Thursday. Indiana Office of Management and Budget Director Cris Johnston, State Auditor Tera Klutz […]

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State agencies asked to cut spending as Indiana faces economic consequences of COVID-19

By Erica Irish TheStatehouseFile.com INDIANAPOLIS — As most of Indiana entered its next phase of reopening from shutdowns imposed to limit the spread of COVID-19, state leaders announced Friday new measures to cut costs as the state records plummeting reserves.  Amid the reopening, which is now in Stage 3 of a five-stage plan for all counties […]

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Indiana’s revenues drop sharply in April because of COVID-19 shutdown

By Victoria RatliffTheStatehouseFile.com INDIANAPOLIS—Indiana’s finances took a $1 billion hit in April, the first full month of shutdown caused by the COVID-19 pandemic, as revenues in all categories from income to sales taxes dropped sharply. Cristopher Johnston, director of the Office of Management and Budget, said Friday that Indiana has a long time, perhaps even years, […]

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Senate votes to let school districts share referendum dollars with charter schools

By Haley CarneyTheStatehouseFile.com INDIANAPOLIS—School districts can opt to share tax dollars raised through a referendum with charter schools, under an amendment narrowly adopted Monday by the Indiana Senate after Lt. Gov. Suzanne Crouch cast the tie-breaking vote. Sen. Linda Rogers, the Granger Republican who offered the amendment to House Bill 1065, said a majority of […]

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State revenues up in January

By Victoria RatliffTheStatehouseFile.com INDIANAPOLIS—Indiana took in more tax revenue than expected in the first month of the year, and legislators don’t plan on spending it anytime soon. The State Budget Agency reported that in January that Indiana had $56 million more in revenue than projected in December when the 2019-2020 budget forecast was made and […]

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House committee opts to use state’s surplus to fund university projects

By Victoria Ratliff and Andrea Rahman TheStatehouseFile.com INDIANAPOLIS–The House Ways and Means Committee approved a bill that will fund $291 million of capital projects for public universities with surplus cash rather than with bonds. House Bill 1007, which passed 13-7 on a party line vote, now heads to the full House for deliberation. It allows […]

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Indiana poised for modest revenue gains

Staff Report TheStatehouseFile.com INDIANAPOLIS — Indiana can expect to bring in about $250 million more over the next two years than was anticipated, according to a revenue forecast given Friday to lawmakers and state budget officials. The bipartisan Revenue Forecast Technical Committee told state officials that based on the current outlook for Indiana and the […]

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Indiana sees revenue surplus in November, sports betting profits on rise

By Emily Ketterer TheStatehouseFile.com INDIANAPOLIS –– Indiana continues to bring in more money than expected each month so far this fiscal year, including more than $880,000 in November sports wagering tax revenue. The state’s general fund revenue for November reached a little more than $1.1 billion, which is $53.6 million above the adjusted revenue forecast […]

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