Indiana's State Board of Finance has approved a fourth round of reimbursements to keep road funding whole during Governor Mike Braun's Gas Tax Holiday, covering August 1 to August 31, the governor's office said on Tuesday.

Source: GIANT fm / Governor's office release

A total of $102,990,085.62 — yaani about $103 million — will be reimbursed to the Motor Vehicle Highway Fund, the Local Road and Street Fund and the Local Road and Bridge Matching Fund. Of that, $19,129,920.09 goes directly to counties, cities and towns.

"Hoosiers deserve relief at the pump without sacrificing the roads and bridges our communities depend on," Braun said, adding that the holiday has kept Indiana gas prices among the lowest in the nation while local governments still receive the funding they need.

The board also approved the annual transfer of the first $70 million in gasoline excise tax collections to the State Highway Road Construction and Improvement Fund. Because the holiday delayed July revenue, that adjustment — which normally appears in August — is showing up in this month's distribution, and local units will see a one-time dip in their Motor Vehicle Highway and Local Road and Street amounts, the governor's office said.

The State Comptroller's Office has begun processing the payments, and counties, cities and towns should receive their reimbursements within two to three business days, according to the release. The Department of Revenue says the current tax suspension runs through November 4.

Source: The American Quorum