State Budget

State tax collections fall just below projections

August 13, 2014
Jacob Rund, The Statehouse File
The state brought in a total of $1.04 billion in July general fund revenue, a decrease of 0.5 percent from the December 2013 state revenue forecast.
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Pence: State to pay special-needs adoption subsidies

August 12, 2014
 The Statehouse File
The move comes just two months after a LaPorte woman filed a lawsuit, saying the state owed her subsidies.
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State eases into rollout of software in tax fix

July 26, 2014
Kathleen McLaughlin
The Indiana Department of Revenue is five to seven years from replacing the 1990s software that processes the bulk of the state’s tax dollars and that auditors cited in the wake of massive accounting errors.
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State to scope downtown block for new offices, parking

July 18, 2014
Kathleen McLaughlin
The Office of Management and Budget will study a state-owned parcel just north of the Statehouse, potentially to house the judiciary and provide more legislative office space.
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Lottery commission OKs new multistate Monopoly game

May 30, 2014
Kathleen McLaughlin
Under its aggressive sales strategy for the next fiscal year, the Hoosier Lottery's operator will add games including Monopoly Millionaires' Club and Bingo To Go.
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Legislative studies often precede tough action

March 9, 2014
Associated Press analysis
Indiana lawmakers have only a few more days this week before they wrap up the 2014 legislative session. But that doesn't mean they're totally done for the year.
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Panel gives Pence half of his $400M road-funding request

February 20, 2014
 The Statehouse File
The reduction, led by Senate Appropriations Chairman Luke Kenley, was a partial blow to one of the governor's key legislative goals.
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Plan to cut business-equipment tax draws debate

February 10, 2014
Associated Press
Indiana House lawmakers took up a Senate proposal to cut business taxes on Monday, as fiscal leaders continued working behind the scenes to craft a compromise package of cuts this legislative session.
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Bitter winter hitting Indiana's revenue stream

February 9, 2014
Associated Press
Nearly every state revenue category failed to hit its January target, including sales taxes and personal income taxes — Indiana's two largest revenue sources.
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State revamps its revenue forecasting after big miss

January 18, 2014
Kathleen McLaughlin
Growing ranks of dropout workers have nagged the economy throughout its recovery, and now Indiana’s budget forecasters feel they can’t ignore the trend. They recently revised their outlook on state revenue downward, partly because so many Hoosiers stopped looking for jobs.
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New state law might idle school bus fleets

January 18, 2014
Andrea Muirragui Davis
A state law intended to make sure cash-strapped public school districts pay their debt could have an unintended consequence: permanently parking the yellow buses that deliver students to class.
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Senate bill seeks to cut corporate income and property taxes

January 9, 2014
Olivia Covington,  The Statehouse File
The proposal from Republican leaders would make small companies exempt from tax on business equipment, and cleave the state's corporate income tax to the second-lowest in the nation.
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Report: Ditching business property tax shifts burden to others

December 26, 2013
 The Statehouse File
Gov. Mike Pence's plan to eliminate the tax on business equipment would mean significantly higher taxes for other property owners if the state took no specific action to protect them, according to a new analysis.
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Declining tax collections eat away at state's fiscal footing

December 22, 2013
Associated Press
Indiana's fiscal picture is looking good with about $2 billion in cash reserves and a strong credit rating, but the next few years could leave the state in a fiscal pinch.
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Forecast: State revenues to miss expectations through 2015

December 20, 2013
New projections show Indiana will have nearly $300 million less in tax revenue to spend over the next two years than lawmakers thought when they wrote the current two-year budget.
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State sells plane, cuts higher ed amid shortfall

December 9, 2013
 The Statehouse File
State agencies will have to cut their budgets an additional 1.5 percent and state universities will see their state aid clipped by 2 percent as the state looks to make up a $141 million drop in tax collections.
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State may pay up to $110M in upfront Illiana Expressway costs

November 30, 2013
Associated Press
The 12-mile Indiana portion of the 47-mile highway, which would link northern Indiana with Chicago's south suburbs, has an estimated $300 million cost.
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State tax collections miss budget expectations

October 7, 2013
 The Statehouse File
Tax receipts for the first quarter of the state's fiscal year have missed projections that were used to write the current two-year budget.
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Shutdown to cost Indiana $33K each day it persists

October 2, 2013
Associated Press
Office of Management and Budget Director Chris Atkins said the state's cash reserves will keep many programs going up to a month before running short.
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State collections miss target, but beat 2012 levels

September 8, 2013
Associated Press
The report released by the State Budget Agency said Indiana's general fund revenue fell about 5 percent below the latest target.
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Hoosierwood: Group seeks state tax incentives for filmmakers

September 2, 2013
Associated Press
A lobbying group is hoping it can persuade Indiana lawmakers to approve tax incentives to companies making movies in the state, saying it will create jobs.
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Indiana ends 2013 budget with improved cash balance

July 11, 2013
Associated Press
Gov. Mike Pence on Thursday praised budget closeout numbers showing the state with $93 million in an ongoing surplus and $86 million more than expected in cash reserves.
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Powerball sales drive Hoosier Lottery revenue to record high

June 28, 2013
Kathleen McLaughlin
The state lottery expects to pull in $945 million for the fiscal year ending June 30. Meanwhile, lottery operator GTECH Indiana plans to start televising Powerball and Mega Millions drawings this summer.
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Pence putting stamp on Indiana with new goals

June 17, 2013
Associated Press
Indiana Gov. Mike Pence announced Monday he will shuffle where state agencies focus most of their efforts. State Budget Director Chris Atkins said the new priorities reflect the goals that Pence laid out in his campaign.
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Legislative roundup: Session yields mixed bag

May 4, 2013
The General Assembly's work left some groups happy, some disappointed.
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