The bill establishes appropriations for various state departments for the fiscal years ending June 30, 2026, and June 30, 2027, while implementing significant budget reductions across these departments. It mandates prior approval from the fiscal committee and the governor for any revenue expenditures that exceed estimates, and requires that appropriations for indirect costs be transferred to the general fund in compliance with federal regulations. Additionally, it stipulates that certain appropriations will not lapse until June 30, 2027, and outlines that if estimated revenues fall short, appropriations will be adjusted accordingly, with specific exemptions for the Department of Corrections.

Moreover, the bill abolishes several positions in various state departments, including the Developmental Disabilities Council and the Housing Appeals Board, and imposes budget cuts on departments such as the Department of Environmental Services and the Department of Health and Human Services, with reductions ranging from $225,000 to $25,500,000 annually. The Liquor Commission is also required to reduce its appropriations by $1,000,000 for the biennium. The bill projects total general fund revenues of $1,764,500,000 for FY 2026 and $1,809,100,000 for FY 2027, and is set to take effect on July 1, 2025. No specific insertions or deletions of legal language are noted in the text provided.