INDIANAPOLIS — State Auditor Tera Klutz, CPA announced that Indiana closed the 2021 fiscal year with reserves of $3.9 billion.

$1.1 billion of that money represents excess reserves, and will trigger an automatic taxpayer refund. The final refund amount will not be calculated until later this year, early estimates suggest the refund could be as high as $170 per individual filer or $340 for joint filers.