CHICAGO - With revenue collections running ahead of recent projections, Indiana Gov. Mitch Daniels announced Friday the state would release $212 million in overdue payments to local governments by the end of May in a move that should help offset the dramatic drop expected in local revenues due to newly enacted property tax reforms.

"As the only state in the Midwest that is in the black fiscally, we're being extremely careful about every dollar. But very strong March and April revenues strengthen our confidence that we will register a fourth straight surplus this year," Daniels said in a statement. "With this year's property tax cuts, we've entered a new era of taxpayer protection. We know there will be an adjustment period for local taxing units and want to do all we can to help."

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