Governor Eric Holcomb is calling the Indiana General Assembly back into a special legislative session to clear the way for $1 billion in state reserves to be returned to Indiana taxpayers. The governor signed the proclamation Wednesday, ordering lawmakers to convene on July 6.
Under the proposed plan, each taxpayer would collect about $225 under the $1 billion plan. That would be in addition to $125 that each taxpayer is set to receive this year from the state’s automatic taxpayer refund.
“This is the fastest, fairest and most efficient way to return taxpayers’ hard-earned money during a time of economic strain,” said Holcomb. “Indiana’s economy is growing and with more than $1 billion of revenue over current projections, Hoosier taxpayers deserve to have their money responsibly returned.”
Indiana’s most recent state revenue report showed revenue was $209 million higher than the state’s forecast. For the 11 months of the Indiana fiscal year, which ends June 30, revenues are $1.075 billion over forecast.
All told, each eligible Hoosier would receive about $350 and a married couple filing jointly would receive about $700.