The bill requires the Department of Revenue (DOR) to submit a report detailing the 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 that year. The report, referred to as the "April 2025 Monthly 62F Report," includes specific financial estimates, such as the year-to-date net state tax revenue excluding the 4% income surtax revenue, which is projected to be $34,696,113,812. Additionally, the DOR estimates that the total net state tax revenue for FY25 will be $41,681,937,273, while the allowable state tax revenue is projected to be $46,384,735,613, indicating a shortfall of $4,702,798,340.

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. The report highlights various categories of tax revenue collected by the DOR, including income, sales, and corporate taxes, among others. The DOR's estimates are based on currently available data and may be revised as more information becomes available. The report is intended to provide transparency and accountability regarding the state's tax revenue and its compliance with established revenue limits.