In this section, “nonwithholding income tax revenues” means the State share of income tax quarterly estimated and final payments with returns made by individuals, as defined in § 10–101 of the Tax – General Article. “Nonwithholding income tax revenues” does not include: the county share of income tax quarterly estimated and final payments with returns made by individuals; income tax payments made by corporations; income tax refunds paid to individuals or corporations; or income tax withholding. After the end of each fiscal year, the Bureau shall submit to the Board a report that: contains an itemized statement of the State revenues from all sources for that fiscal year; and includes any recommendations of the Bureau. In December, March, and September of each year, the Bureau shall submit to the Board a report that contains an itemized statement of the estimated State revenues from all sources for the fiscal year following the fiscal year in which the report is made. The report required under subparagraph (i) of this paragraph shall be reviewed and approved by the Revenue Monitoring Committee before the estimates in the report may be formally adopted by the Board. The Bureau shall submit the March report required under subparagraph (i) of this paragraph to the Board by a date that allows the Board to meet before the passage of the annual budget bill in the first chamber of the General Assembly to vote on the budget bill in that year. The Bureau shall provide to the Board any other information that the Board requests. Notwithstanding any other provision of law, the reports required under paragraphs (1) and (2) of this subsection shall include an itemized statement of: revenues or estimated revenues distributed to the Transportation Trust Fund, including the motor fuel taxes imposed under Title 9, Subtitle 3 of the Tax – General Article and motor vehicle titling taxes imposed under Title 13, Subtitle 8 of the Transportation Article; revenues from the State transfer tax imposed under Title 13, Subtitle 2 of the Tax – Property Article; estimated revenues from nonwithholding income taxes calculated in accordance with subsection (e) of this section; and estimated revenues from any premium taxes collected by the Maryland Insurance Administration. In order for the Bureau to include in the reports required under paragraphs (1) and (2) of this subsection estimated revenues from any premium taxes collected by the Maryland Insurance Administration, the Maryland Insurance Administration shall submit to the Bureau: within 1 month after the end of the preceding fiscal quarter, quarterly premium tax data on a cash basis and by fund source, including payments, refunds, other financial transactions, and total net cash impact; a fiscal year–end close–out report reconciling the quarterly data; an annual report tabulating data from submitted tax forms for each insurer, including total premiums, total deductions, total taxable premiums, gross tax owed, and liability information; and any other data requested by the Bureau. The Maryland Insurance Administration shall submit the data required under this paragraph in a format determined by the Bureau. In addition to these reports, the Bureau shall continually conduct studies of State revenue sources to: determine the amount of revenue produced; and devise and recommend new methods and sources for improved efficiency, equity, and economy in production, collection, and estimation of revenue. On or before December 1, 2008, and December 1 of every third year thereafter, the Bureau shall submit to the Governor and, in accordance with § 2–1257 of the State Government Article, to the General Assembly a tax incidence study measuring: the burden of all the major taxes and toll charges imposed by the State, including: the individual income tax; the motor fuel tax; the real property tax; and the sales and use tax; how the burden of each tax and charge type is shared among taxpayers of different income levels; and the aggregate impact of the taxes and charges among taxpayers of different income levels. In order to assist the Bureau in preparing a tax incidence study under this subsection, any governmental unit involved in the implementation or administration of the taxes and charges evaluated in the study shall: provide promptly any information that the Bureau requests; and otherwise cooperate with the Bureau. The Bureau shall prepare and submit the statistics of income report required under § 10–223 of the Tax – General Article. Beginning with the revenue estimate for fiscal year 2020, the Bureau shall calculate the share of General Fund revenues represented by nonwithholding income tax revenues in accordance with this subsection. For each fiscal year, the Bureau shall calculate the 10–year average share of General Fund revenues represented by nonwithholding income tax revenues. For each fiscal year, the 10–year average shall use the 10 most recently completed fiscal years for which data are available when the estimate is prepared in the September before the beginning of the fiscal year. The same 10–year average shall be used in all subsequent revisions to the revenue estimate for that fiscal year. Subject to subparagraph (ii) of this paragraph, for each fiscal year, if the Bureau’s estimate of the share of General Fund revenues from nonwithholding income tax revenues is above the 10–year average share, the Bureau shall adjust the revenue estimate by reducing General Fund revenues from nonwithholding income tax revenues by an amount sufficient to align the estimated share of General Fund revenues from nonwithholding income tax revenues with the 10–year average share of General Fund revenues from nonwithholding income taxes. The adjustment made under subparagraph (i) of this paragraph may not exceed the following percentage of total General Fund revenues or dollar value in a specified fiscal year: 225% for fiscal year 2020; $0 for fiscal year 2021; $80,000,000 for fiscal year 2022; $100,000,000 for fiscal year 2023; $0 for fiscal years 2024 through 2029; and 2% for fiscal year 2030 and each fiscal year thereafter. The capped estimate calculated under this paragraph shall be incorporated in the revenue estimate the Bureau shall report to the Board in the report required under subsection (b)(2) of this section. On or before February 1, 2023, and February 1 of every fourth year thereafter, the Bureau, in collaboration with the Consensus Revenue Monitoring and Forecasting Group established under § 6–105 of this subtitle, shall submit to the Governor and, in accordance with § 2–1257 of the State Government Article, to the General Assembly a report on the strengths and weaknesses of the Bureau in the preceding four years, including: the accuracy of Bureau estimates of State revenue; the impact of the revenue volatility cap on reporting; and the challenges faced by the Bureau in forecasting State revenues. On or before August 1, 2023, and August 1 of every fourth year thereafter, the Department of Legislative Services shall submit, in accordance with § 2–1257 of the State Government Article, to the General Assembly a report on the operations of the Bureau, including: an analysis of the transparency and usability of data and reports produced by the Bureau; an overview of appropriations for the Bureau and major expenditures; an analysis of the staffing needs of the Bureau; and issues preventing the Bureau from carrying out its duties under this subtitle. The report shall cover the operations of the Bureau during the same period as the report issued by the Bureau under subsection (f) of this section.