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Last updated on Wednesday, August 12, 2015
(INDIANAPOLIS) - Tax collections data show revenue for the state of Indiana fell $6.1 million short of projections in July.
The information on revenue for the beginning of the fiscal year was released Monday. Tax collections were also $1.1 million lower than what the state brought in for July 2014.
The Indianapolis Star reports the condition of the state's tax collections will likely play a role as Gov. Mike Pence decides whether to pay off a roughly $250 million federal unemployment loan. If it's paid off by Nov. 9, the state's employers would save an estimated $327 million in penalties in 2016.
The state began borrowing from the federal government in 2008 to meet demands for unemployment amid the recession.
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