INDIANAPOLIS – Gov. Eric Holcomb on Thursday announced a plan to return $1 billion of state reserves to Hoosier taxpayers, following higher than expected revenue performance this fiscal year.
Each taxpayer would collect about $225 in addition to the $125 Hoosiers are currently receiving from the state’s automatic taxpayer refund (ATR). All told, each eligible resident would receive about $350. A married couple filing jointly would get about $700.
“Hoosiers have real needs right now during this period of high inflation, from the gas pump to buying groceries, and everyone should benefit from the state’s success,” said Holcomb. “I’ve met with legislative leaders and have asked them to discuss getting a billion dollars back into Hoosier hands. I’ve committed to working with them to call a special session before the end of June to take action to align this second round of returns with our current ATR.”
If approved, an additional deposit would be made to the bank accounts of eligible Indiana citizens.