THE RAATZ ROUNDUP
Submitted for use on April 14, 2022
Word Count: 361
By State Sen. Jeff Raatz (R-Richmond)
Championed by Statehouse Republicans in the Indiana General Assembly in 2011, the automatic taxpayer refund law requires excess revenues be split between existing teacher pension obligations and a refund for hardworking Hoosier taxpayers. Indiana is only one of six states with an automatic taxpayer refund in place.
Indiana's revenues have continuously been higher than expected, which recently triggered the automatic taxpayer refund.
The last time this refund was triggered was in 2012, and Senate Republicans recently supported efforts to ensure even more taxpayers are eligible to receive the upcoming refund.
Senate Enrolled Act 1 adjusts this law to ensure that every Hoosier who qualifies for a refund will get one. Without these changes, around 900,000 taxpayers would not get the refund. I take great pride in the fact that Indiana can return hard-earned money to taxpayers, and I will continue to prioritize fiscally responsible policies like these during my time as your state senator.
In total, about $545 million will be distributed statewide to those who qualify. Each state income taxpayer is set to receive about $125. There has been some confusion surrounding when and how this refund will be administered. It is decoupled from your tax return, but will arrive in the same method that you receive your tax return.
Refunds will begin in May through direct deposit for residents who have filed their income taxes and provided their banking information on their return. Direct deposits are expected to continue through July. Paper checks will be issued beginning in late July and continue through August, with the goal of completing the refund statewide by Sept. 1.
To learn more about your automatic taxpayer refund, click here.
Indiana continues to be in excellent financial shape thanks to years of fiscally conservative leadership. I will do what I can to make sure that the General Assembly continues to put money back in Hoosiers' pockets and continues to maintain a strong financial position so taxes can continue to be reduced.
If you have any questions or concerns on these or other topics, feel free to contact me at Senator.Raatz@iga.in.gov or 317-233-0930.
Click here for a high-resolution photo of Sen. Raatz.