INDIANAPOLIS (AP) — Gov. Mike Pence has signed the state’s new two-year, $30 billion budget into law.

Pence said in a Wednesday statement after signing the budget bill that the plan includes $600 million a year in tax relief for Indiana residents and will boost investment in the state.

The budget approved April 27 by lawmakers includes a modest increase in school funding, new money for roads and highways and roughly $350 million in income tax cuts.

Pence says the new budget’s combination of income tax relief, inheritance tax repeal and other business tax reductions will “help every Hoosier taxpayer, small businesses and family farmers” and make the state more competitive in attracting new jobs.

The budget includes $190 million for K-12 education and more than $600 million for roads and infrastructure.