INDIANAPOLIS — Indiana Gov. Eric Holcomb signed a proclamation Wednesday calling for a special session of the General Assembly to discuss his plan to return funds from the state reserves to Hoosier taxpayers.
The state currently has more than $1 billion in surplus for the fiscal year. Holcomb has proposed paying out $225 to taxpayers — in addition to the previously announced $125 from the automatic taxpayer refund — to help ease the financial strain many Hoosiers are feeling.
"This is the fastest, fairest and most efficient way to return taxpayers' hard-earned money during a time of economic strain," Holcomb said. "Indiana’s economy is growing and with more than $1 billion of revenue over current projections, Hoosier taxpayers deserve to have their money responsibly returned. I'm happy to be able to take this first step and look forward to signing this plan into law as soon as possible."
The proclamation calls for the General Assembly to meet July 6 to take action on his plan. Under the plan, individual taxpayers would receive about $225, while married couples filing jointly would receive around $450. That, paired with the $125 — or $250 for joint filers — that have already begun hitting some Hoosiers' accounts, brings the total to $350 for individuals or $700 for couples to get back from the state.
House Speaker Todd Huston (R-Fishers) released a statement in response to the governor's call for a special session.
"Our goal is to take action to provide inflation relief to Hoosier taxpayers as our state and nation continue to see the price of gas, and everyday goods and services climb to record heights. The state's strong fiscal health positions us to responsibly use the state's reserves to quickly return money back to taxpayers."
The one-time payments will go to direct deposit if a taxpayer:
- filed an Indiana resident tax return for 2020 before Jan. 3, 2022; and
- filed a 2021 Indiana resident tax return by April 18, 2022; and
- listed direct deposit checking or savings account information for your 2021 Indiana income tax refund.
Taxpayers will receive a mailed check from the Auditor of State if they:
- do not meet the requirements for direct deposit; or
- filed for an extension of time to pay on their 2021 Indiana resident tax return; or
- included directed deposit information for an account associated with refund advance loans or similar arrangements; or
- could not otherwise have a direct deposit sent to their bank account.
The Indiana Democratic Party issued a response saying:
"Happening in July: The Indiana Republican Party will hold a special session to issue a one-time check that doesn't address the state's high gas taxes and ban a woman's right to legal and safe abortions. As seen from last weekend, the Indiana GOP has become the Party of extremists who care more about their national agenda than delivering a better future for Hoosier families."