The bill mandates that local governments and the Department of Labor and Industry must send copies of building and electrical permits for new construction to the Department of Revenue. This notification must occur within 90 days of the permit's issuance and should include clear location information for the parcel, which can be in the form of an address, geocode, or legal description. The definition of "local government" is specified to include any city, town, county, or consolidated city-county.

Additionally, the bill makes several changes to existing law, including the replacement of the term "applicable" with a more specific reference to the Department of Revenue and the removal of the requirement for notifications to be sent to a specific field office. The timeframe for sending notifications has been extended from one month to 90 days. This legislation aims to improve the identification of new construction projects for revenue purposes.