INDIANAPOLIS (AP) -- Indiana's state government agencies have been told to cut spending by 15% for the coming year in reaction to plummeting tax revenues during the coronavirus outbreak.
State tax collections were about $960 million less than expected for April, and Gov. Eric Holcomb said Friday the state could see a drop of more than $3 billion in tax revenue over the next 14 months.
No cuts to school or university funding have been announced, although those areas saw significant cuts during the last recession in 2009-10.
Budget officials last month imposed a widespread hiring freeze for agencies that Holcomb oversees.
Gov. Holcomb said the state would not move forward or put on hold several previously announced projects:
- Use of $291 million in reserves to pay for several capital projects approved in the 2020 legislative session. Bonding authority may be used to move forward with those projects later
- Approximately $65 million in Next Level Trails grants
- $110 million of deferred maintenance projects, including $70 million for state parks
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