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 to be $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 at $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 established by Chapter 62F regarding allowable state tax revenue. This is significant as it allows for the collection of additional revenue without impacting the overall allowable revenue cap. The report provides a comprehensive breakdown of various tax revenues collected by the DOR, including income, sales, and corporate taxes, among others, and outlines the expected revenue growth factors for the fiscal year.