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 as defined by Chapter 62F. The report includes specific estimates for fiscal year 2025, indicating that the total net state tax revenue is projected to be $41,681,937,273, while the allowable state tax revenue is estimated at $46,384,735,613. Consequently, the DOR anticipates that net state tax revenue will fall short by approximately $4,702,798,340.

Additionally, the bill clarifies that the 4% income surtax revenue will not be subject to the limitations on allowable state tax revenue established by Chapter 62F. The report highlights various categories of tax revenue collected, with a total year-to-date net state tax revenue (excluding the 4% income surtax) of $34,696,113,812 as of April 30, 2025. The DOR's estimates are based on available data and may be revised as more information becomes accessible.