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 to settle their liabilities by paying the owed amount and half of the interest due as of November 1, 2025, without incurring additional penalties or fees. However, this amnesty is not available to individuals under criminal investigation for State tax matters. If eligible taxpayers do not take advantage of the amnesty, they will face a mandatory five percent penalty on their unpaid taxes, in addition to any other applicable penalties and interest.

Furthermore, the bill creates a dedicated Stabilization Aid Account within the Department of Education, where all revenues collected from the tax amnesty program will be deposited, excluding certain constitutionally dedicated funds. These funds 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. The bill also appropriates up to $15 million from the collected funds to administer the tax amnesty program and mandates expedited procurement for advertising services related to the program.