Indiana tax collections come up short again

New revenue figures show Indiana tax collections fell $75 million short of expectations in January.

Republican
Gov. Mitch Daniels said the figures underscore the need for the General Assembly to pass several bills that he says would
save the state about $70 million.

One bill would combine the administration of the Indiana Public Employees’ Retirement
Fund and the Indiana State Teachers’ Retirement Fund. Daniels said combining the two state pension funds would save money
by reducing investment fees without changing the benefits or funding for the separate funds.

That bill and other
legislation Daniels says would save cash have cleared the Republican-led Senate and now move to the Democrat-led House for
consideration.

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