Hoosier taxpayers could get money back - wave3.com-Louisville News, Weather & Sports

Hoosier taxpayers could get money back

INDIANAPOLIS (AP) -- Indiana's new state budget will include a refund for taxpayers if the state takes in more money than expected, a measure pushed by Republican Governor Mitch Daniels.

Republicans who control the House supported the governor's idea, but Republican Senate leaders said it was more responsible to use any excess money to pay down unfunded pension liabilities. The tentative compromise budget proposal announced Thursday would meld the two ideas together.

If state reserves contain more than 10 percent over general fund spending, half the extra money would be used for pension funds and half would be given back to taxpayers.

It's another victory for Daniels as he considers whether to run for president in 2012.

 

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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