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. The report, referred to as the "May 2025 Monthly 62F Report," includes estimates indicating that the full fiscal year net state tax revenue for FY25 will not exceed the allowable state tax revenue. Additionally, the report highlights that the 4% income surtax revenue is exempt from the allowable state tax revenue limitations established by Chapter 62F.

The report provides specific figures, including a year-to-date net state tax revenue of approximately $37.4 billion, an estimated total net state tax revenue of about $41.6 billion for FY25, and an allowable state tax revenue of approximately $46.4 billion. The DOR estimates that net state tax revenue will fall short of the allowable state tax revenue by about $4.8 billion. The report also outlines the growth factor for allowable state tax revenue and includes various tax revenue collections by agency, emphasizing the financial landscape for the Commonwealth as it approaches the end of the fiscal year.