Gov. Eric Holcomb (R) administration that the state has $6.1 billion in reserve following the closeout of its fiscal year, having collected $353 million more in revenue than the current budget needs. Because of the new law passed during the special session, the first one billion dollars in excess goes to paying down debt in the teacher pension fund. The remaining surplus will be disbursed to taxpayers as part of the Governor’s inflation relief plan.
For more information, contact NACDS’ Mary Staples at 817-442-1155.