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[s49] Sen. Tomes: Senate Passes State Budget, Concludes 2013 Legislative Session
Start Date: 4/27/2013Start Time: 12:00 AM
End Date: 4/27/2013End Time: 11:59 PM
Entry Description

STATEHOUSE (April 27, 2013) – State Sen. Jim Tomes (R-Wadesville) lauded today’s passage of a new state budget that provides hundreds of millions of dollars in tax relief to Hoosier families. The two-year fiscal plan includes a 5 percent individual income tax cut phased in from 2015 to 2017 and provides increased funding for roads, child protection, K-12 and higher education.

“Hoosiers will soon get to enjoy the benefits of meaningful tax relief,” Tomes said. “While leaving everyone’s paychecks a little larger, we’re also sending a message to employers that we’re serious about job creation in Indiana. This honestly balanced budget funds our roads and provides increased resources to our schools. This is a win for Indiana.”

Highlights of the honestly balanced budget include:

• Tax Relief and Job Creation: 
    o Cuts individual income tax rate 5 percent (3 percent cut beginning in 2015 and another 2 percent cut beginning in 2017) 
    o Eliminates state inheritance tax, retroactively effective to Jan. 1, 2013 
    o Includes funding for vocational education and workforce development initiatives
• Education: 
    o Increases K-12 funding by $333 million over the biennium (2 percent increase in FY 2014 and 1 percent increase in FY 2015) 
    o Increases university funding by more than $100 million per year 
    o Increases student aid by $75 million over the biennium
• Roads: 
    o Increases road and infrastructure funding by $200 million per year and sets aside another $400 million over the biennium for future transportation needs
• Child Protection: 
    o Increases funding for DCS by $35 million per year 
    o Provides $10 million per year for school resource officers (contained in SB 1)
• Health Care: 
    o Transfers $250 million in FY 2014 to the Medicaid Contingency and Reserve Account
• Paying Taxpayer-Funded Debt: 
    o 100 percent of excess surplus in FY 2013 goes to Pension Stabilization Fund 
    o Pays back $91 million in charter school loan 
    o Provides $215 million cash funding for university capital projects

In addition to the budget, Tomes pointed out a few noteworthy bills that passed during the 2013 legislative session:

• SB 177 – Tuition rates for veterans
• SB 125 – Child fatality reviews and commission on children
• SB 115 – Combat to college program

The Senate is now adjourned “sine die”— which signifies the end of the 2013 Indiana General Assembly.


Entry Type:
Press Release
Entry Category:
  • Announcements
  • Category:
  • Government
  • Agency Name
    Senate Republican Caucus

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