(1) the state's entire bill for the fiscal year ending March thirty-first, two thousand six, calculated pursuant to section three hundred twenty-three-a of this article (without reference to this section), less the "amount eligible for amortization" determined pursuant to section three hundred sixteen-d of this article, if applicable; and

(2) the first annual installment of the "amount eligible for amortization" determined pursuant to this section. c. The remaining amortized payments shall be due and payable each subsequent fiscal year during the amortization period. The comptroller shall have the authority to permit the pre-payment of the remaining balance of the "amount eligible for amortization," subject to the following:

(1) on or before August first, two thousand four in addition to advising with respect to the amount due for the current year billing, the comptroller shall advise the state of the total amount due and be authorized to accept pre-payment in full of said amount for the fiscal year ending March thirty-first, two thousand five.

(2) on or before each subsequent August first during the amortization period, in addition to the amount due for the current year billing and for the payment of the annual amortized installment, the comptroller shall advise the state of the total amount still outstanding and be authorized to accept the pre-payment of any balance remaining to be paid for that fiscal year.