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Indiana governor signs spending plan for unexpected revenue

IU Campus
Posted at 7:40 AM, Jan 30, 2020
and last updated 2020-01-30 07:40:47-05

INDIANAPOLIS — Indiana's governor has signed off on a plan for spending $291 million in unexpected state tax revenue on college campus construction projects after legislative Republicans rebuffed Democratic attempts to direct at least some of that money toward school funding.

Republican Gov. Eric Holcomb's office said he signed the bill Wednesday. Holcomb had first proposed in July the plan for using the extra money toward paying cash for the building projects, rather than borrowing money.

Holcomb said in a statement that the plan ensures the state remains "the fiscal envy of the nation saving Hoosier taxpayers more than $135 million in borrowing costs."