State tax collections fall just below projections
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.
State Budget
Articles
Pence: State to pay special-needs adoption subsidies
The move comes just two months after a LaPorte woman filed a lawsuit, saying the state owed her subsidies.
State eases into rollout of software in tax fix
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.
Pence: Austerity steps needed despite big reserves
The governor's administration has told state agencies to hold back 4.5 percent of their funding for the current fiscal year despite the state's $2 billion in reserves.
State to scope downtown block for new offices, parking
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.
Lottery commission OKs new multistate Monopoly game
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.
Legislative studies often precede tough action
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.
Panel gives Pence half of his $400M road-funding request
The reduction, led by Senate Appropriations Chairman Luke Kenley, was a partial blow to one of the governor's key legislative goals.
State wants early access to long-term transportation fund
The Indiana Department of Transportation asked the state Senate Appropriations Committee to approve the release of $400 million saved in a special trust fund created last year.
Pence pushes preschool funding amid cost concerns
Under the House Republican plan, families earning less than 185 percent of the federal poverty level in five selected counties would get state aid to send their children to public, private or religious preschools that meet certain education standards.
Plan to cut business-equipment tax draws debate
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.
Bitter winter hitting Indiana’s revenue stream
Nearly every state revenue category failed to hit its January target, including sales taxes and personal income taxes — Indiana's two largest revenue sources.
State revamps its revenue forecasting after big miss
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.
New state law might idle school bus fleets
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.
Senate bill seeks to cut corporate income and property taxes
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.
Report: Ditching business property tax shifts burden to others
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.
Declining tax collections eat away at state’s fiscal footing
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.
Forecast: State revenues to miss expectations through 2015
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.
State sells plane, cuts higher ed amid shortfall
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.
State may pay up to $110M in upfront Illiana Expressway costs
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.