As part of a special legislative session to appropriate Indiana’s $6.1 billion surplus, S.B. 2 enacted a number of fiscal matters. The law provides for an additional automatic taxpayer refund of $200 for the 2021 tax year to taxpayers who were already eligible for an automatic refund under prior law. The law also establishes the Hoosiers Family First Fund and appropriates $45 million to the fund from the state general fund for 2023. Further, the law caps the gasoline use tax rate at $0.295 per gallon until June 30, 2023. An additional $1,000,000,000 million will be appropriated from the state general fund for pension stabilization in 2023 if the amount of excess reserves meets a certain threshold.

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