According to the state of Indiana, there’s an initiative moving forward to send some money to taxpayers.
There is good news about direct payment. However, it might be smaller than the original proposal.
Reports illustrate Indiana legislators want to return part of the $6.1 billion surplus to taxpayers.
US News reported that the state would deliver $200 checks.
Nevertheless, Governor Eric Holcomb originally mentioned that residents would receive a $225 rebate.
The reason why Indiana lawmakers reduced the amount, was to assure that every resident would receive cash in their mailboxes.
“This will still be over $1 billion back to our citizens,” state representative Tim Brown said.
Who will get the $200 check?
According to state legislators, more than 4 million people across the state will get rebate money.
There are no restrictions.
Indiana wants to refund all taxpayers who filed their 2020 and 2021 tax returns.
However, a maximum of 900,000 Hoossiers who didn’t file income taxes could be eligible to obtain the $200 as a future tax credit.
When will Indiana approve the direct payment proposal?
Indiana House and Senate already voted for the proposal, and reports say that Governor Holcomb will sign it as soon as possible.
“I am extremely pleased to see the House advance Senate Bill 2 that includes returning a billion dollars back to Hoosier taxpayers in the form of an automatic taxpayer refund,” Governor Holcomb said.
“I look forward to signing it as soon as it arrives on my desk.”
There’s no timeline for the payment.
Indiana taxpayers already received a $125 payment to combat inflation prices. Nevertheless, that will be the second rebate Hoosiers will get.