The bill requires the Department of Revenue (DOR) to submit a report detailing year-to-date net state tax revenue for the current fiscal year, projections for the remainder of the fiscal year, and an assessment of whether net state tax revenue may exceed the allowable state tax revenue. The report, referred to as the "February 2025 Monthly 62F Report," includes specific financial figures such as the year-to-date net state tax revenue, which is reported as $25,082,570,987, and the estimated total net state tax revenue for FY25, projected at $41,345,519,791. Additionally, the report indicates that the allowable state tax revenue for FY25 is estimated to be $45,955,400,471, resulting in a projected shortfall of $4,609,880,679.

The bill also clarifies that the 4% income surtax revenue will not be subject to the limitations on allowable state tax revenue as established by Chapter 62F. This provision is crucial as it allows the state to account for additional revenue generated from the surtax without impacting the overall revenue cap. The report highlights various sources of tax revenue collected by the DOR, including income, sales, and corporate taxes, and provides a comprehensive overview of the state's fiscal health as it relates to tax revenue collection and projections for the current fiscal year.