Muda69 Posted December 15, 2021 Posted December 15, 2021 https://www.indystar.com/story/news/politics/2021/12/15/indiana-return-125-each-hoosier-automatic-tax-refund-2022/8908542002/ Quote The state will return $125 to each Hoosier taxpayer after they pay taxes in 2022 due to higher than expected state revenue numbers during the 2021 fiscal year. Anyone who paid taxes in 2021 will be eligible. Indiana leaders announced in July that Hoosiers would receive a combined refund worth $545.3 million, but they weren't sure at the time how much money each taxpayer would get. Under Indiana law, if Indiana's reserves are 12.5% of general fund appropriations or higher excluding K-12 education reserves, Hoosiers get some of that money back. Indiana ended its 2021 fiscal year at the start of July with nearly $4 billion in reserves, which equals 23% of its expenditures. Some of the extra money went toward paying down debt associated with a teacher pension fund, while $545 million will go back to 4.3 million Hoosiers. ... Wait, shouldn't it all be going back to Indiana government school teachers? 1
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