State Redistributes Local Option Income Tax Funds
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowMore than $500 million in Local Option Income Tax reserves has been redistributed to local governments. Governor Mike Pence says the majority of the funding will be used for local transportation infrastructure maintenance.
In all, $435 million will go toward transportation spending and the remaining $70 million will be deposited into rainy day funds.
The payout marks the final step in a bill signed into law during the most recent legislative session, which authorized a one-time distribution of excess LOIT funding. It money is part of a massive, $1 billion effort to put more money toward road and bridge repairs statewide and locally.
Pence said "early this year, we committed to investing significant new funding in state and local infrastructure maintenance to preserve the Crossroads of America. Today, we make good on that promise with the distribution of funds to local governments to further improve infrastructure and spur economic development and quality of life in communities across Indiana."
The following report breaks down the amount received by counties:
This report breaks down the local government units receiving funds: