CHICAGO — Triple-A rated Indiana, which was hit harder and earlier than many states by the national recession, will likely start to enjoy a revenue rebound the next three years, budget officials said this week.

However, the Hoosier State could still face a structural deficit as high as $500 million in the first year of the upcoming 2012-2013 budget cycle. That’s because spending is expected to total $13.9 billion in 2012, while revenue could remain stuck in pre-recession 2008 levels around $13.4 billion.

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