Indiana Board Approves $121.16M Transfer to Reimburse Gas Tax Holiday Losses

The state comptroller says money will hit local accounts within days and all reimbursements will be finished by November 1.

Overview

Indiana’s Board of Finance voted Tuesday to move $121,159,722.89 from the State Highway Fund to state and local road accounts to replace gasoline excise and use taxes missed from April 8 to May 31.
About $38 million of the transfer is earmarked for cities, towns and counties to cover lost local road and bridge revenue and help them meet budgeted operations and projects.
State Comptroller Elise Nieshalla said the Comptroller’s Office began issuing payments immediately and that local governments should see deposits in two to three days.
The money will be routed to the Motor Vehicle Highway Fund, the Local Road and Street Fund, and the Local Road and Bridge Matching Fund, with the state aiming to complete all payments by November 1.
Governor Mike Braun’s gas tax holiday remains in effect through mid‑August, so the Board of Finance plans additional votes to reimburse later months if the suspension continues.