PASSING A BALANCED BUDGET – Straight From The Senate

While many important issues were discussed during the 2015 legislative session, the state’s biennial budget was a primary focus the past four months. The enacted budget, House Enrolled Act 1001, is balanced and concentrated on funding Indiana’s most important needs, creating a strong foundation for our economic future.

The new two-year budget ensures that our state’s ongoing revenues exceed ongoing expenditures, and it protects taxpayers by ending the biennium with $1.85 billion in reserves.

We said from the start of this session that we would prioritize funding for education. I am pleased to say that more than 60 percent of the budget is dedicated to education. We have increased K-12 education funding by $474 million over the next two years. We also increased total university funding by $212 million, including one-time funding of $25 million for repair and maintenance at all regional campuses.

Our state continues to be a leader in economic growth and development. It is vital that we continue to invest in projects and infrastructure that will further strengthen economic development opportunities in Indiana.

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The budget does this by allotting $200 million for major highway projects and maintaining the previous budget’s increase of $100 million per year for local roads. It also provides funding for a statewide “Launch Indiana” program that helps aspiring Hoosier entrepreneurs. This will be modeled after a successful program in Fishers which provides high-impact entrepreneurs with a collaborative co-working space they can use to create the next generation of business successes.

Another effort to boost economic development in our state is the Regional Cities Initiative, which provides funding for communities that work together on projects that are mutually beneficial and improve the economic environment of their shared region of the state. The new budget provides up to $84 million for this initiative, paid for with proceeds from a tax amnesty program.

The budget also places an emphasis on public safety by providing community corrections funding of $116 million over the biennium. It also increases funding for offender mental health and addiction treatment by $30 million over the biennium so that more offenders can receive the services needed to avoid returning to a life of crime.

In the end, I believe this new two-year budget is a win for our state. It continues our track record of sound fiscal responsibility while providing significant investments in areas that will benefit all Hoosiers.

As always, I welcome your input on these budget priorities or any other issue facing our state. You can contact my office directly by email at Senator.Long@iga.in.gov or by phone at 800-382-9467.

I look forward to hearing your feedback.