Lawmakers are holding their collective breath in anticipation of Dec. 17 forecasts for tax receipts and Medicaid needs that will determine how they’ll proceed with writing the state’s next two-year budget and funding priorities like education.
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Zachary “Zac” Jackson, who has led the State Budget Agency as director for nearly five years, is leaving state government to become chief financial officer and controller for the city of Carmel, the Indiana governor’s office announced Monday.
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Consumer spending that boosted state revenues has cooled after two years of above-average financial performance, bringing the state’s reserves back within a typical range.
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Republican legislative leaders agreed Thursday to give about $300 million in additional funding toward Indiana schools in the new state budget.
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The district’s finances face heightened uncertainty as Indiana lawmakers advance bills that cap property tax revenue and require IPS to share local property tax revenue with charter schools.
The two-year budget approved by Indiana House lawmakers and now moving through the Senate would increase per-student base funding for some virtual public schools by as much as 50%
The Indiana State Budget Agency noted that higher-than-expected collections from income tax revenue outweighed lower-than-expected collections from sales tax and interest revenue.
School officials and advocates, in particular, denounced the dual legislation considered Wednesday because of the possible the double-whammy hit to budgets.
Despite language in the state budget that appears to terminate the state’s contract with the nonprofit, Gov. Mike Braun’s office now maintains the intention is not to force IHS to give up its building.
The state of Indiana receives more than $20 billion from the federal government annually, or 44% of its budget, and is the third-most reliant state on federal dollars.
Lawmakers on both sides of the aisle have advocated for this exemption for years.
The historical society owns the downtown Indianapolis building where its headquarters, museum and archives are housed. However, the state owns the land.
But House Speaker Todd Huston, R-Fishers, has said repeatedly that Indiana lawmakers don’t make policy simply to raise money.
Lawmakers have less to spend due to slowing growth in state tax revenue and ballooning Medicaid costs—both residual effects of the pandemic.
Income taxes drove the overall increase, with collections up 4.7% more than the agency anticipated.
The two-year spending plan funds many of Gov. Mike Braun’s agenda items—including additional funding for private school vouchers—but doesn’t include several state tax cuts the new governor proposed.
Indiana Gov. Mike Braun is scheduled to present his proposal to the State Budget Committee on Thursday afternoon.
Republican state leaders, including Lt. Gov. Micah Beckwith, joined Purple for Parents of Indiana on Wednesday to call for continued scrutiny to ensure compliance with a 2023 state law barring state dollars from being used by the sex research organization.
Lawmakers will convene Wednesday to begin drafting the state’s next two-year budget, determining how to spend approximately $44 billion dollars to fund government services.
While education dominates half of Indiana’s budget and Medicaid costs worry lawmakers, a projected transportation infrastructure funding shortfall creeps closer.
A year the Holcomb administration revealed a shortfall in the state’s Medicaid program of nearly $1 billion, lawmakers will start working in January to piece together legislation that at least in part deals with the second-largest and fastest-growing item in the state budget.
An expected tight budget cycle could limit how much lawmakers are willing to designate for existing technical investments—never mind additional requests.
During the Indiana Chamber Legislative Preview event, Statehouse leaders said the biggest issue on the table—and a major campaign talking point—is property taxes.
Indiana’s public universities are seeking millions of dollars for capital projects, but the state’s Commission for Higher Education wants lawmakers to concentrate funding in the next budget cycle on deferred-maintenance projects.
