Wednesday, August 7, 2024
Years of conservative fiscal leadership have continued to keep Indiana as one of the most economically competitive and responsible states in the nation, and lawmakers are constantly working to find more ways to keep money in the pockets of hard-working Hoosiers.
This year, Senate Republicans prioritized Hoosier taxpayers by passing a bill that ensures responsible use of taxpayer dollars.
Senate Enrolled Act 4 establishes an ongoing process to review and return unused state government funds to the General Fund and enables state agencies to lower or eliminate fines and fees faster.
Under SEA 4, the State Budget Agency (SBA) will prepare a report that identifies the balance of dedicated funds that have not been used in the prior two years and make recommendations from the state budget director. The General Assembly then has the opportunity to make changes regarding these unused funds. Money still left unused at the end of the fiscal year would revert to the state's General Fund.
Preliminary estimates show this process could free up about $40 million in unused funds during the first review cycle.
SEA 4 also streamlines the process for all agencies to cut or eliminate fees and fines through interim rules, which take far less time to adopt than the full rulemaking process, helping keep more money in Hoosiers' pockets.
SEA 4 went into effect July 1, 2024.
To learn more about this law, click here.
