INDIANAPOLIS — Indiana Governor Eric J. Holcomb signed a relief bill Friday night that will bring $200 rebate payments to the pockets of Hoosiers.

The funds will come from the state’s surging budget surplus.

The rebate amount is below the Governor’s original proposal of $225. Governor Holcomb says the bill he signed Friday night “fulfills”what he “set out to accomplish when calling the General Assembly into special session” and establishes “long overdue increased funding” for families and young children.

The bill passed 37-9.

The measure will utilize about $1 billion from the state’s record $6.1 billion in cash reserves for the rebates. An additional $1 billion will benefit the state teacher pension fund’s future obligations.