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Senate Bill 0143


Senate Bill 0143

ARCHIVE (2012)

Latest Information

 

DIGEST OF SB 143 (Updated February 27, 2012 2:41 pm - DI 84)


State fiscal matters. Provides for an automatic refundable tax credit to Indiana residents when the state has excess reserves of at least $20,000,000. Transfers any part of the excess reserves that are not needed to provide tax credits to the pension stabilization fund. Provides that beginning in 2013: (1) the office of management and budget shall calculate, after the end of each odd- numbered state fiscal year, the total amount of state reserves; and (2) the governor's presentation concerning the disposition of excess state reserves is conditioned upon the determination that the state reserves exceed 12% (instead of 10%) of the general revenue appropriations for the current state fiscal year. Permits augmentation of the appropriation for full-day kindergarten. Changes the amount distributed per child.
    Current Status:
     In Conference Committee
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