Note to the press: Please include the following statements from State Reps. Jeff Thompson (R-Lizton), Bob Behning (R-Indianapolis) and Greg Steuerwald (R-Avon) 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 14, 2021) – "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.
"Hardworking Hoosiers are yet again reaping the benefits of Indiana's fiscal responsibility. At a time when our national debt is an unfathomable $28 trillion and rising, Indiana's conservative budgeting is a breath of fresh air. Our latest budget not only provides historic funding for Hoosier priorities like K-12 education, but it also reduces taxpayer-funded debt and paves the way for future tax cuts and reforms. And today, our state's booming economy and strong fiscal health are resulting in refunds to Indiana taxpayers," said State Rep. Bob Behning (R-Indianapolis).
"Our state's economy is running strong, and revenue continues to outpace our expectations. Our incredible fiscal health puts us in a position to return money to taxpayers – where it belongs. This refund is welcome news and I look forward to exploring our options to provide more tax relief for hardworking Hoosiers next session," said State Rep. Greg Steuerwald (R-Avon).
Click here for the formal announcement.
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State Rep. Bob Behning (R-Indianapolis) represents House District 91,
which includes portions of Hendricks and Marion counties.
Click here to download a high-resolution photo.
State Rep. Greg Steuerwald (R-Avon) represents House District 40,
which includes a portion of Hendricks County.
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.
