The Indiana State Budget Agency is required to estimate whether the sales tax deductions taken under
IC 6-2.5-7-5 during the immediately preceding reporting period plus the deductions expected to be taken during the reporting period beginning January 1, 2010, and ending March 31, 2010, will exceed the available balance in the E85 Deduction Reimbursement Fund established under
IC 15-15-12-30.5. If the estimated deductions exceed the available balance in the E85 Reimbursement Fund,
IC 6-2.5-7-5 requires that no deductions may be allowed for the reporting period beginning January 1, 2010, and ending March 31, 2010. The Indiana State Budget Agency finds that under
IC 15-15-12-32.5, the first deposit into the E85 Deduction Reimbursement Fund will not occur until July 1, 2010, and that there is currently no available balance in the Fund. Therefore, the Indiana State Budget Agency finds that no deductions may be allowed during the reporting period beginning January 1, 2010, and ending March 31, 2010.
