The second round of the Indiana Department of Transportation’s Community Crossings Matching Grant program is on hold.
Continue readingSecond Round of INDOT’s Community Crossings Matching Grant Program on Hold
Governor Holcomb Extends Public Health Emergency to July 4
Governor Holcomb has extended Indiana’s public health emergency declaration to July 4. Holcomb signed an executive order Wednesday that renews the emergency for 30 days.
Continue readingState Revenue Forecast Figures Released
State Budget Agency Releases State Revenue Report
State revenue collections were up 8.4 percent from this time last year.
The State Budget Agency indicated that sales tax collections totaled $641.6 million for the month of January which is four percent below target, but up almost four percent in collections for the same period last year.
Individual income tax collections were 18 percent above target. Corporate income tax collections totaled $1.1 million for the month, which is 107 percent above target.
Through the first seven months of fiscal year 2013, state general fund revenues have increased four percent which is more than double the rate projected in the December 2012 forecast. January has a surge in individual income tax revenue due to a delay in acceptance of returns by the IRS.
State Budget Agency Announces December Figures $22 Million Above Target
The State Budget Agency recently released the monthly revenue report for the state tax collections in December 2012 and boasted a total revenue of $1.191 trillion – $22 million above target, and $24 million above collections for the same period last year.
Sales tax collections came to a total of $549 million for December, another increase over last year by $20 million. However, individual income tax collections were down 3.2 percent, totaling only $323 million – $10 million less than the same period last year. Officials attribute this to a large transfer to the local option income tax reserve.
State Releases September Revenue Report
The State Budget Agency released the monthly revenue report for September 2012 tax collections, with revenues totaling $1.424 billion. This is $23 million above target and $90 million above collections for the same period last year.
Through the month, state general fund revenues increased 5.2 percent–more than double the rate needed to meet the most recent forecast. Total general fund revenues are now $51 million ahead of forecast through the first quarter of the fiscal year.
Indiana House Republicans Reject Effort to Protect Funds for Lakes
The Indiana House Republicans Thursday rejected an effort by State Representative Nancy Dembowski to protect funds earmarked for lakes around the state. Dembowski has 27 lakes in her district and tried to make $2.4 million in funds paid for by boaters to remain dedicated to that purpose.
The Representative objected to the Daniels administration taking the money to shore up the State budget. Following the defeat, Dembowski talked to reporters.
