Indiana’s State Board of Finance recently approved the fourth round of reimbursements under Gov. Mike Braun’s gas tax holiday.
The Motor Vehicle Highway Fund (MVH), the Local Road and Street Fund (LRS), and the Local Road and Bridge Matching Fund will be reimbursed $103 million.
The Comptroller’s Office is processing payments, and counties, cities and towns should receive reimbursements within two to three business days. The reimbursements cover Aug. 1 through Aug. 31, and local units of government will receive $19 million.
The transfer will appear in this month’s distribution, and local units will see a one-time dip in their MVH and LRS amounts. This is the same adjustment that occurs every August, shifted by the holiday. The transfer does not reduce the amount owed to local units for the suspension.
The board also approved the annual transfer of the first $70 million in Gasoline Excise Tax collections to the State Highway Road Construction and Improvement Fund (SHRCIF).
“Our office is steadfast in delivering reimbursements with accuracy and urgency as we work to restore roadway funding during the temporary suspension of Gas Tax collection,” Indiana State Comptroller Elise Nieshalla said. “Completing the annual SHRCIF transfer now is essential because it prevents this statutory adjustment from being applied twice next year, which would be a hardship for local units of government.”