The bill establishes a 90-day State tax amnesty period, concluding no later than January 15, 2026, allowing taxpayers who have failed to pay State taxes due on or after September 1, 2017, and before January 1, 2025, to settle their tax liabilities. During this period, taxpayers can pay the owed tax and half of the interest due as of November 1, 2025, without incurring additional penalties or fees. However, those under criminal investigation for State tax matters are ineligible for the amnesty. If taxpayers do not take advantage of the amnesty, they will face a mandatory five percent penalty on their unpaid taxes, in addition to other applicable penalties.

The bill also creates a dedicated Stabilization Aid Account within the Department of Education, where all revenues collected from the tax amnesty will be deposited, excluding certain constitutionally dedicated revenues. This account will be used to provide Stabilization Aid to school districts that experience a reduction in State aid compared to the previous year. School districts seeking this aid must submit an application to the Commissioner of Education, including a plan for future funding. Additionally, the bill appropriates up to $15 million from the amnesty proceeds to cover the program's administrative costs and mandates expedited procurement for advertising services related to the amnesty program.