Last month, Indiana Governor Mike Braun directed his administration to make local governments whole for any gas tax revenues missed throughout the duration of the ongoing energy emergency. Today, the Indiana Board of Finance unanimously approved a transfer of $121,159,722.89 from the State Highway Fund to the Motor Vehicle Highway Account, the Highway, Road, and Street Fund, and the Local Road and Bridge Matching Fund, delivering on the Governor's promise.
"Over the last 18 months, we have right-sized government and done more with less. And because of that, we were able to make life more affordable for Hoosiers this summer with the cheapest gas in the country. Today we honored our commitment to ensure that this tax relief for Hoosiers had no adverse effect on the roads and infrastructure in our communities.” – Governor Braun
The transfer amount represents gasoline use tax and gasoline excise tax revenue foregone from April 8 through May 31. The transferred funds will be allocated to local units of government under the standard statutory framework for gasoline use tax and gasoline excise tax collections, with the portion designated for local distribution available to local government units within 2 to 3 days.
Similar transfer requests will be made at subsequent Indiana Board of Finance meetings to address revenue foregone during the remaining months of the gas tax holiday.
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