INDIANAPOLIS (AP) — All Indiana taxpayers would be eligible for $200 rebate payments from the state’s surging budget surplus under an apparent deal reached among Republican legislators.
Those payments will be less than the $225 refunds that were originally proposed by Republican Gov. Eric Holcomb but the deal represents a concession from GOP senators who were reluctant to go along with that plan.
The plan endorsed Thursday in a largely party-line vote by the Indiana House will dedicate about $1 billion from the state’s record $6.1 billion in cash reserves toward the rebate payments.
It also will direct $1 billion toward a state teacher pension fund’s future obligations.