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 for the current fiscal year. The report includes specific estimates for fiscal year 2025, indicating that the total net state tax revenue is projected to be $41,345,519,791, while the allowable state tax revenue is estimated at $45,955,400,471, resulting in a shortfall of $4,609,880,679. Additionally, the bill clarifies that 4% income surtax revenue will not be subject to the limitations established by Chapter 62F.

The report highlights various categories of state tax revenue collected, with a total year-to-date net state tax revenue (excluding the 4% income surtax) of $25,082,570,987 as of February 28, 2025. The DOR's estimates are based on available data and may be revised as more information becomes available. The bill emphasizes the importance of monitoring tax revenue against allowable limits to ensure fiscal responsibility and compliance with state law.