Note to the press: Please include the following statement from State Rep. Bob Heaton (R-Terre Haute), who serves on House Ways and Means Committee and the State Budget Committee, 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) – "Indiana continues to be a national leader in conservative budgeting, low taxes and debt management. These efforts combined with a surging economy now put us in a favorable position to provide a tax refund to Hoosiers families."
Click here for the formal announcement.
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State Rep. Bob Heaton (R-Terre Haute) represents House District 46,
which includes portions of Clay, Monroe, Owen and Vigo counties.
Click here to download a high-resolution photo.
