Boone County Lawmakers: State's unprecedented economic success triggers taxpayer refund

Posted by: Samantha Holifield  | Friday, July 16, 2021

Note to the press: Please include the following statements from State Reps. Tim Brown (R-Crawfordsville), Donna Schaibley (R-Carmel) and Jeff Thompson (R-Lizton) in your coverage of Indiana Auditor of State Tera Klutz announcing the state will end the fiscal year with $1.1 billion in excess reserves, triggering an automatic taxpayer refund. While the final refund amount will not be calculated until later this year, early estimates suggest the refund could be as high as $170 per individual filer or $340 for joint filers. In Indiana, reserve balances in excess of 12.5% of the next year's budget is required to be split, with half dedicated to pay down pension obligations and the other half given back to taxpayers. According to the report, about $545 million will go to taxpayers and another $545 million toward pension liabilities. This will be the second time Hoosiers will receive an automatic taxpayer refund since the law passed in 2011.   

STATEHOUSE (July 16, 2021) – "Indiana is wisely investing in our future, from historic education funding to broadband expansion and regional economic development. Indiana has a strong track record of taking care of its immediate and future needs, while also saving for rainy days. It's great to see the success of our economy give us the flexibility to return money back to hardworking taxpayers, where it belongs," said State Rep. Tim Brown (R-Crawfordsville), chair of the House Ways and Means Committee and the State Budget Committee.

"Our state has a strong reputation for not spending more than we take in while still funding essential services on behalf of all Hoosiers. I believe in small government and low taxes, and as this money is returned to taxpayers, we are already working to find other options for tax relief in the future," said State Rep. Donna Schaibley (R-Carmel).

"Over the last decade, Hoosiers have come to expect the state to operate under an honestly balanced budget that funds priorities without saddling taxpayers with debt. Our conservative, limited-government approach to state operations continues to propel Indiana forward. Important services are being funded at unprecedented levels, and we are investing in our state's future, while returning money to Hoosier taxpayers," said State Rep. Jeff Thompson (R-Lizton), member of the House Ways and Means committee.

Click here for the formal announcement.

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State Rep. Tim Brown (R-Crawfordsville) represents House District 41,
which includes portions of Boone, Montgomery and Tippecanoe counties.
Click 
here to download a high-resolution photo.

State Rep. Donna Schaibley (R-Carmel) represents House District 24,
which includes portions of Boone and Hamilton counties.
Click here to download a high-resolution photo.

State Rep. Jeff Thompson (R-Lizton) represents House District 28,
which includes portions of Hendricks and Boone counties.
Click 
here to download a high-resolution photo.