Tax Amnesty Program Funds Regional Cities Initiative
This year, a tax amnesty program allowed Hoosiers to pay past-due taxes without any fees or penalties for the first time since 2005. The program ended last month, and as of Tuesday, it brought in $10 million more than its goal. That’s good news for the state’s Regional Cities Initiative.
Northeast Indiana is competing against six other regions in the state for regional development funds.
The initiative is funded by money collected through the state’s tax amnesty program. The Indiana Department of Revenue collected $100.1 million, with an additional $22.3 million expected through payment plans. The goal of the program was $90 million.
Up to $6 million will be allocated to the Indiana Department of Transportation, and the rest will go into the state’s general fund.
Amanda Stanley of the Department of Revenue says she’s glad they collected enough to fully fund the two programs.
“We’re very excited by the success of the program and excited that taxpayers took advantage of the program to participate and clean up their accounts and move forward with a clean slate,” Stanley said.
If Northeast Indiana is chosen for the Regional Cities Initiative, the funding would go toward its Road to One Million Plan. It includes community development projects, like improving theaters and creating more trails and outdoor recreation. The goal is to attract more people to the area to increase the region’s population to one million by 2031.
The winning region will be announced December 15.