Indiana

Indiana collected less revenue than expected last month, though revenues remained up for the first eight months of the fiscal year, officials said this week.

CHICAGO — The governors of Kentucky and Indiana Monday released the first comprehensive financing plan for a massive $2.6 billion bridges project that will rely heavily on tolls.

The mayor of Hammond, Ind., said last week he won’t move forward with a plan to sell the city’s water company due to costly legal fees and an uncertain market.

The Indiana Senate and the House have both passed separate measures that would eliminate or significantly reduce the state’s inheritance tax, which generates roughly $150 million annually.

Legislation that would pave the way for a $1.3 billion bond-funded regional transit system for central Indiana is likely dead after the Senate president said last week he would not advance the bill.

Moody’s Investors Service last week upgraded to Baa2 from Baa3 its rating on Ball Memorial Hospital, affecting $101 million of bonds.

CHICAGO — Indianapolis is expecting an infusion of anywhere from $125 million to $400 million from hosting Super Bowl XLVI on Feb. 5.

Indiana Gov. Mitch Daniels touted his legislative agenda — which includes a controversial labor bill — and his achievements during his eight-year tenure at his final state of the state address last week.

Indiana has become the fourth state in the country to reach an agreement with Amazon.com Inc. for the retail giant to collect state sales tax on Internet purchases.

The Indiana Finance Authority has issued a request for qualifications from legal firms interested in serving as transaction counsel on the state's portion of the $2.6 billion bi-state Ohio River Bridges project.

CHICAGO — Indiana's chief budget official is stepping down.

Indiana lawmakers returned to work Wednesday for a short session that begins with controversial labor legislation but will also likely include bills advancing a $1.3 billion bond-funded mass transit plan and raising more revenue for cash-strapped local governments.

Kentucky and Indiana officials announced last week that they reached consensus on a basic plan to finance and build the $2.6 billion Ohio River Bridges Project.

Fitch Ratings last week upgraded to AAA from AA-plus its rating on $60 million of ad valorem bonds issued by the Indianapolis Local Public Improvement Bond Bank, which functions as the borrowing arm of the triple-A rated Indianapolis.

The latest revenue projections show Indiana could end the current fiscal year with a $1.8 billion surplus, an amount that would trigger an automatic refund to taxpayers under a new law.

A task force last week proposed a local income tax rate increase in the Indianapolis region to finance a $1.3 billion rail and bus system over the next 10 years.

Moody’s Investors Service last week downgraded to A2 from A1 its rating on Elkhart General Hospital, affecting $86.6 million of bonds.

CHICAGO — Indiana got an unexpected $288 million budget boost after detecting a computer programming error that failed to transfer revenue to the state's general fund, Gov. Mitch Daniels announced Tuesday.

Indianapolis Mayor Greg Ballard won a second term last week, defeating public finance attorney Melinda Kennedy.

Indiana Gov. Mitch Daniels last week appointed public finance veteran Jennifer Alvey to the State Lottery Commission.