On or before July 15 of each year, the Tax Commissioner and the Legislative Fiscal Analyst shall certify the monthly estimate of General Fund net receipts for each month of the current fiscal year. Such certification shall be filed electronically with the Clerk of the Legislature. The certification shall include estimates of gross receipts to the General Fund and refunds for sales, corporate income, individual income, and other miscellaneous receipts and refunds by month. The total of the monthly estimates for the fiscal year shall take into consideration the most recent net receipts forecast provided during a regular legislative session by the Nebraska Economic Forecasting Advisory Board pursuant to section 77-27,158 plus any revisions due to legislation enacted which has an impact on receipts that were not included in the forecast. If the total of monthly estimates so certified is at variance with the estimates of the Nebraska Economic Forecasting Advisory Board, the certification shall include a statement of the specific statistical or economic reasons for the variance.

(1) Within fifteen days after the end of each month, the Tax Commissioner shall provide a public statement of actual General Fund net receipts, a comparison of such actual net receipts to the monthly estimated net receipts from the most recent forecast provided by the Nebraska Economic Forecasting Advisory Board pursuant to section 77-27,158, and a comparison of such actual net receipts to the monthly actual net receipts for the same month of the previous fiscal year.

(2) Within fifteen days after the end of each fiscal year, the public statement shall also include (a) a summary of actual General Fund net receipts and estimated General Fund net receipts for the fiscal year as certified pursuant to sections 77-4601 and 77-4603 and (b) a comparison of the actual General Fund net receipts for the fiscal year to the actual General Fund net receipts for the previous fiscal year.

(3)(a) Within fifteen days after the end of each fiscal year, the Tax Commissioner shall determine:

(i) Actual General Fund net receipts for the most recently completed fiscal year minus estimated General Fund net receipts for such fiscal year as certified pursuant to sections 77-4601 and 77-4603; and

(ii) Actual General Fund net receipts for the most recently completed fiscal year minus one hundred three percent of actual General Fund net receipts for the prior fiscal year.

(b) If the amount calculated in subdivision (3)(a)(i) of this section is a positive number and the amount calculated in subdivision (3)(a)(ii) of this section is a negative number, the Tax Commissioner shall certify the amount calculated in subdivision (3)(a)(i) of this section to the State Treasurer. The State Treasurer shall transfer such certified amount to the Cash Reserve Fund.

(c) If the amounts calculated in subdivisions (3)(a)(i) and (3)(a)(ii) of this section are both positive numbers and the amount calculated in subdivision (3)(a)(i) of this section exceeds the amount calculated in subdivision (3)(a)(ii) of this section, the Tax Commissioner shall certify the amounts calculated in subdivisions (3)(a)(i) and (3)(a)(ii) of this section to the State Treasurer. The State Treasurer shall transfer the difference between the two certified numbers to the Cash Reserve Fund. The State Treasurer shall transfer the amount certified for subdivision (3)(a)(ii) of this section to the School District Property Tax Relief Credit Fund.

(d) If the amounts calculated in subdivisions (3)(a)(i) and (3)(a)(ii) of this section are both positive numbers and the amount calculated in subdivision (3)(a)(i) of this section is less than the amount calculated in subdivision (3)(a)(ii) of this section, the Tax Commissioner shall certify the amount calculated in subdivision (3)(a)(i) of this section to the State Treasurer. The State Treasurer shall transfer such certified amount to the School District Property Tax Relief Credit Fund.

(1) If an estimate of General Fund net receipts is changed in a regular or extraordinary meeting of the Nebraska Economic Forecasting Advisory Board and such change results in a special session of the Legislature to revise current fiscal year General Fund appropriations, the Tax Commissioner and the Legislative Fiscal Analyst shall certify the monthly receipt estimates, taking into consideration the most recent estimate of General Fund net receipts made by the Nebraska Economic Forecasting Advisory Board plus legislation enacted which has an impact on receipts that was not included in the forecast. The new monthly certification shall be made by the fifteenth day of the month following the adjournment of the special session of the Legislature.

(2) If an estimate of General Fund net receipts is reduced in a regular or extraordinary meeting of the Nebraska Economic Forecasting Advisory Board, the Tax Commissioner and the Legislative Fiscal Analyst shall recertify the monthly receipt estimates, taking into consideration the most recent estimate of General Fund net receipts made by the Nebraska Economic Forecasting Advisory Board plus legislation enacted which has an impact on receipts that was not included in the forecast. The new monthly certification shall be made by the fifteenth day of the month following the meeting of the Nebraska Economic Forecasting Advisory Board.

(3) The new certified annual and monthly receipt estimates shall be used for the public statements required under subsection (2) of section 77-4602.