The State Budget Agency confirmed Friday that Indiana tax collections rebounded in March after coming in below expectations one month earlier.
Altogether, Indiana's general fund revenue last month totaled $1.5 billion. That was $22 million, or 1.5%, more than predicted by the state's revenue forecast .
Personal income tax receipts, which contributed to a $42.3 million revenue target miss in February, were $529.5 million in March, exceeding expectations by $26.6 million, or 5.3%.
Data show the $786 million generated by the state's largest revenue source — the 7% sales tax — was nearly right on target last month, while the $41.6 million in interest earnings on Indiana's estimated $2 billion budget reserve added to the monthly surplus.
The March revenue results close the book on the third quarter of the state's 2024 budget year, which runs from July 1, 2023, through June 30, 2024.
With three months left to go, the $14.8 billion in general fund revenue collected so far this year is $416.2 million, or 2.9%, more than predicted, leaving Indiana with a fairly comfy cushion heading into the most critical months for state tax receipts.
The money in Indiana's general fund is used to cover nearly all state expenses, including public and private education at all grade levels, public safety, health care, state parks and just about everything else state government does.
Meet the 2024 Northwest Indiana legislative delegation
State Sen. Dan Dernulc, R-Highland
State Sen. Dan Dernulc, R-Highland
1st Senate District
Represents: Highland, Dyer, Griffith, Merrillville, St. John, Schererville
Experience: State senator since 2022; project manager
Committees: Education and Career Development; Environmental Affairs; Local Government; Pensions and Labor
Photo provided
State Sen. Lonnie Randolph, D-East Chicago
State Sen. Lonnie Randolph, D-East Chicago
2nd Senate District
Represents: East Chicago, Hammond, Munster, Whiting
Experience: State senator since 2008, previously served 1994-98; attorney
Committees: Appropriations; Ethics (vice chairman); Insurance and Financial Institutions (ranking member); Judiciary (ranking member); Tax and Fiscal Policy
Photo provided
State Sen. Dave Vinzant, D-Hobart
State Sen. Dave Vinzant, D-Hobart
3rd Senate District
Represents: Gary, Hobart, Lake Station, Merrillville, New Chicago
Experience: Former four-term Hobart city councilman; retired software developer
Committees: Commerce and Technology; Homeland Security and Transportation (ranking member); Pensions and Labor; Public Policy; Utilities; Veterans Affairs and the Military
Photo provided
State Sen. Rodney Pol Jr.
State Sen. Rodney Pol Jr., D-Chesterton
4th Senate District
Represents: Chesterton, Beverly Shores, Burns Harbor, Michigan City, Portage
Experience: State senator since 2021; attorney
Committees: Corrections and Criminal Law (ranking member); Ethics; Judiciary; Local Government (ranking member); Pensions and Labor; Rules and Legislative Procedure
Photo provided
State Sen. Ed Charbonneau, R-Valparaiso
State Sen. Ed Charbonneau, R-Valparaiso
5th Senate District
Represents: Valparaiso, Hebron, Wheeler, Jasper County
Experience: State senator since 2007; attorney
Committees: Appropriations; Health and Provider Services (chairman); Rules and Legislative Procedure; Tax and Fiscal Policy
Photo provided
State Sen. Rick Niemeyer, R-Lowell
State Sen. Rick Niemeyer, R-Lowell
6th Senate District
Represents: Lowell, Cedar Lake, Crown Point, DeMotte, Winfield
Experience: State senator since 2014, state representative 2012-14; small business owner
Committees: Environmental Affairs (chairman); Judiciary; Local Government; Tax and Fiscal Policy
Photo provided
State Sen. Mike Bohacek, R-Michiana Shores
State Sen. Mike Bohacek, R-Michiana Shores
8th Senate District
Represents: LaPorte County
Experience: State senator since 2016; consultant
Committees: Corrections and Criminal Law; Health and Provider Services; Local Government
Photo provided
State Rep. Carolyn Jackson, D-Hammond
State Rep. Carolyn Jackson, D-Hammond
1st House District
Represents: Hammond, Whiting
Experience: State representative since 2018; retired Cook County, Ill., probation officer
Committees: Environmental Affairs; Family, Children and Human Affairs; Natural Resources
Photo provided
State Rep. Earl Harris Jr., D-East Chicago
State Rep. Earl Harris Jr., D-East Chicago
2nd House District
Represents: East Chicago, Gary (west side), Hammond (east side)
Experience: State representative since 2016; small business owner
Committees: Government and Regulatory Reform; Roads and Transportation (ranking member); Ways and Means
Photo provided
State Rep. Ragen Hatcher, D-Gary
State Rep. Ragen Hatcher, D-Gary
3rd House District
Represents: Gary (downtown and east side), Hobart, Lake Station, New Chicago
Experience: State representative since 2018; attorney
Committees: Commerce, Small Business and Economic Development (ranking member); Courts and Criminal Code; Government and Regulatory Reform
Photo provided
State Rep. Ed Soliday, R-Valparaiso
State Rep. Ed Soliday, R-Valparaiso
4th House District
Represents: Valparaiso, Kouts
Experience: State representative since 2006; aviation safety consultant
Committees: Elections and Apportionment; Roads and Transportation; Utilities, Energy and Telecommunications (chairman)
Photo provided
State Rep. Pat Boy, D-Michigan City
State Rep. Pat Boy, D-Michigan City
9th House District
Represents: Michigan City, Beverly Shores, Chesterton, Long Beach
Experience: State representative since 2018; retired small business owner
Committees: Elections and Apportionment; Environmental Affairs; Natural Resources (ranking member)
Photo provided
State Rep. Chuck Moseley, D-Portage
State Rep. Chuck Moseley, D-Portage
10th House District
Represents: Portage, Burns Harbor, Dune Acres, Ogden Dunes, Porter, South Haven
Experience: State representative since 2008; financial solutions associate
Committees: Employment, Labor and Pensions; Financial Institutions; Veterans Affairs and Public Safety
Photo provided
State Rep. Mike Aylesworth, R-Hebron
State Rep. Mike Aylesworth, R-Hebron
11th House District
Represents: Hebron, Cedar Lake, DeMotte, Lowell, Morocco, Roselawn, Schneider
Experience: State representative since 2014; farmer, former state environmental regulator
Committees: Agriculture and Rural Development (chairman); Courts and Criminal Code; Environmental Affairs
Photo provided
State Rep. Mike Andrade, D-Munster
State Rep. Mike Andrade, D-Munster
12th House District
Represents: Munster, Griffith, Highland
Experience: State representative since 2020; small businessman
Committees: Financial Institutions (ranking member); Ways and Means
Photo provided
State Rep. Vernon Smith, D-Gary
State Rep. Vernon Smith, D-Gary
14th House District
Represents: Gary (south side), Merrillville, unincorporated Calumet Township
Experience: State representative since 1990; education professor at Indiana University Northwest
Committees: Education (ranking member); Financial Institutions; Local Government
Photo provided
State Rep. Hal Slager, R-Schererville
State Rep. Hal Slager, R-Schererville
15th House District
Represents: Dyer, Schererville, St. John
Experience: State representative 2012-18, reelected 2020; small business owner
Committees: Financial Institutions; Rules and Legislative Procedures; Ways and Means
Photo provided
State Rep. Kendell Culp, R-Rensselaer
State Rep. Kendell Culp, R-Rensselaer
16th House District
Represents: Rensselaer, Knox
Experience: State representative since 2022; farmer
Committees: Elections and Apportionment; Environmental Affairs (vice chairman); Utilities, Energy and Telecommunications
Photo provided
State Rep. Julie Olthoff, R-Crown Point
State Rep. Julie Olthoff, R-Crown Point
19th House District
Represents: Crown Point, Hobart, Lakes of the Four Seasons, Wheeler, Winfield
Experience: State representative 2014-2018, reelected 2020; small business owner
Committees: Commerce, Small Business and Economic Development (vice chairwoman); Family, Children and Human Affairs; Rules and Legislative Procedures
Photo provided
State Rep. Jim Pressel, R-Rolling Prairie
State Rep. Jim Pressel, R-Rolling Prairie
20th House District
Represents: LaPorte
Experience: State representative since 2016; small business owner
Committees: Elections and Apportionment; Government and Regulatory Reform; Roads and Transportation (chairman)
Photo provided
Be the first to know
Get local news delivered to your inbox!