,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #cdff  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #bg1 #bjag,mr4  
,delaney 7= himself1 ,mr4 ,ellison1 ,ms4
 ,norton1 ,mr4 ,nolan1 ,mr4 ,mc,nerney1 
& ,mr4 ,langev97 introduc$ ! foll[+     
bill2 :i* 0 ref]r$ to ! ,committee on   
,education & ! ,work=ce1 & 9 addition to
 ! ,committee on ,ways & ,means1 = a    
p]iod to be subsequ5tly det]m9$ by !    
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to      
provide support = pre-k9d]g>t5 education
 ?r\gh an ,e>ly ,education ,tru/ ,fund1 
& = o!r purposes4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,e>ly ,le>n+ ,act (
 #bjag4  #b4 ,exp5ditures = pre-k9d]g>t5
 education  7a7 ,9 g5]al ,n lat] ?an    
,augu/ #ae ( ea* ye>1 beg9n+ ) #bjah1 f 
am\nts 9 ! ,e>ly ,education ,tru/ ,fund 
e/abli%$ by section #c1 ! ,secret>y (   
,education 79 ?is section ref]r$ to z ! 
,secret>y7 %all aw>d to ! ,/ate         
pre-k9d]g>t5 ag5cy = ea* ,/ate ! am\nt  

e/imat$ "u subsection 7b77#a77;,a7 = su*
 ,/ate & ye>1 subject to p>agraphs      
7#a77;,a7 & 7#b7 ( subsection 7d74  7b7 
,conditions = aw>ds ,am\nts may only be 
aw>d$ "u subsection 7a7 to a ,/ate      
pre-k9d]g>t5 ag5cy = a ,/ate = a ye> if 
! head ( su* ag5cy--  7#a7 submits to ! 
,secret>y-- 7,a7 n lat] ?an ,june #ae ( 
su* ye>1 an e/imate ( ! am\nt describ$ 9
 p>agraph 7#a7 ( subsection 7c7 = su*   
,/ate & ye>2 &  7,b7 n lat] ?an ,novemb]
 #a ( su* ye>1 = ea* enroll$ #d-ye>-old 
9 su* ,/ate1 ! numb] ( h\rs = :i* su*   
#d-ye>-old is enroll$ at a pre-k9d]g>t5 
program 9 su* ,/ate = ! s*ool ye> beg9n+
 9 su* ye>2 &  7#b7 provides su*        
assurances z ! ,secret>y may require t--
 7,a7 su* am\nts w be us$ only to       
support pre-k9d]g>t5 programs2  7,b7 !  
,/ate w exp5d = pre-k9d]g>t5 programs1  
dur+ ! #a-ye> p]iod beg9n+ on ,augu/ #ae
 ( su* ye> n less ?an ! am\nt exp5d$ by 
! ,/ate = su* programs dur+ ! #a-ye>    
p]iod beg9n+ on ,augu/ #ae ( ! previ\s  
ye>2 &  7,c7 ea* resid5t ( ! ,/ate :o is

 #d ye>s old on ,octob] #a ( su* ye> has
 ! opportunity to enroll 9 a free       
pre-k9d]g>t5 program4  7c7 ,am\nt       
describ$  7#a7 ,9 g5]al ,! am\nt        
describ$ 9 ?is p>agraph is1 ) respect to
 a ,/ate & a ye>1 ! sum ( ! products    
det]m9$ "u p>agraph 7#b7 = all enroll$  
#d-ye>-olds 9 ! ,/ate = ! ye>4  7#b7    
,product det]m9$ ,! product det]m9$ "u  
?is p>agraph = an enroll$ #d-ye>-old = a
 ye> is ! product (--  7,a7 #e 7adju/$  
annually by ! ,secret>y ( ,education =  
inflation1 beg9n+ ) #bjai1 on ! basis ( 
! consum] price index = all urban       
consum]s72 &  7,b7 ! numb] ( h\rs       
report$ "u subsection 7b77#a77;,b7 = su*
 enroll$ #d-ye>-old = ! s*ool ye> beg9n+
 9 su* ye> 7n to exce$ #a1fjj74  7d7    
,adju/m5ts to paym5ts  7#a7             
,reconciliation ( paym5t ,= ea* ,/ate   
pre-k9d]g>t5 ag5cy = a ye>3 7,a7        
,ov]paym5t ,if ! am\nt aw>d$ "u         
subsection 7a7 is great] ?an ! am\nt    
describ$ 9 p>agraph 7#a7 ( subsection   
7c71 ! am\nt to be aw>d$ "u subsection  

7a7 = ! foll[+ ye> %all be r$uc$ by !   
diff]5ce betwe5 su* am\nts4  7,b7       
,und]paym5t ,if ! am\nt aw>d$ "u        
subsection 7a7 is less ?an ! am\nt      
describ$ 9 p>agraph 7#a7 ( subsection   
7c71 n lat] ?an ,decemb] #ca ( su* ye>1 
f am\nts 9 ! ,e>ly ,education ,tru/     
,fund e/abli%$ by section #c1 !         
,secret>y %all aw>d to su* ,/ate        
pre-k9d]g>t5 ag5cy ! diff]5ce betwe5 su*
 am\nts1 subject to p>agraph 7#b74  7#b7
 ,insuffici5t funds ,if1 z ( a date1 !  
am\nts available to be aw>d$ on su* date
 f ! ,e>ly ,education ,tru/ ,fund are   
less ?an ! am\nts to be aw>d$ on su*    
date "u ?is section )\t reg>d to ?is    
p>agraph1 ! ,secret>y %all ratably r$uce
 ! am\nts to be aw>d$4  7e7 ,def9itions 
,9 ?is section3 7#a7 ,enroll$ #d-ye>-old
 ,! t]m enroll$ #d-ye>-old means1 )     
respect to a ye>1 an individual :o1 z ( 
,octob] #a ( su* ye>--  7,a7 is #d ye>s 
old2 &  7,b7 is enroll$ at a            
pre-k9d]g>t5 program = at lea/ #ijj h\rs
 = ! s*ool ye> beg9n+ 9 su* ye>4  7#b7  

,pre-k9d]g>t5 program ,! t]m            
pre-k9d]g>t5 program means a program t  
is-- 7,a7 (f]$ by a nonpr(it or         
gov]nm5tal entity2  7,b7 design$ to     
provide pre-k9d]g>t5 education = at lea/
 #ijj h\rs dur+ a s*ool ye>2 &  7,c7    
accr$it$ by ! ,/ate pre-k9d]g>t5 ag5cy =
 ! ,/ate 9 :i* su* program op]ates or by
 ano!r accr$it+ entity approv$ by su*   
,/ate4  7#c7 ,/ate pre-k9d]g>t5 ag5cy ,!
 t]m ,/ate pre-k9d]g>t5 ag5cy means1 )  
respect to a ,/ate1 ! ag5cy responsible 
= ov]sight ( pre-k9d]g>t5 education 9 ! 
,/ate4  #c4 ,e>ly ,education ,tru/ ,fund
  7a7 ,creation ( ,tru/ ,fund ,!re is   
h]eby e/abli%$ 9 ! ,treasury ( ! ,unit$ 
,/ates a tru/ fund to be kn[n z ! ,e>ly 
,education ,tru/ ,fund1 consi/+ ( su*   
am\nts z may be appropriat$ or cr$it$ to
 su* ,tru/ ,fund z provid$ 9 ?is        
section4  7b7 ,transf] to ,tru/ ,fund ( 
am\nts equival5t to c]ta9 taxes ,!re are
 h]eby appropriat$ to ! ,e>ly ,education
 ,tru/ ,fund am\nts equival5t to ! taxes
 receiv$ 9 ! ,treasury "u section #ei;,a

 ( ! ,int]nal ,rev5ue ,code ( #aihf     
7relat+ to surtax = ,e>ly ,education    
,tru/ ,fund74  7c7 ,exp5ditures f ,tru/ 
,fund ,am\nts 9 ! ,e>ly ,education ,tru/
 ,fund %all be available1 )\t fur!r     
appropriation1 to c>ry out section #b4  
7d7 ,adm9i/rative provisions  7#a7      
,transf] ( am\nts ,! am\nts appropriat$ 
by subsection 7b7 %all be transf]r$ at  
lea/ mon?ly f ! g5]al fund ( ! ,treasury
 to ! ,e>ly ,education ,tru/ ,fund on ! 
basis ( e/imates made by ! ,secret>y ( !
 ,treasury ( ! am\nts ref]r$ to 9 su*   
subsection4 ,prop] adju/m5ts %all be    
made 9 ! am\nts subsequ5tly transf]r$ to
 ! ext5t prior e/imates 7 9 excess ( or 
less ?an ! am\nts requir$ to be         
transf]r$4  7#b7 ,managem5t ,! ,e>ly    
,education ,tru/ ,fund %all be manag$ "u
 ! rules specifi$ 9 section #ifjb ( !   
,int]nal ,rev5ue ,code ( #aihf4  #d4    
,surtax = ,e>ly ,education ,tru/ ,fund  
7a7 ,9 g5]al ,sub*apt] ,a ( *apt] #a ( !
 ,int]nal ,rev5ue ,code ( #aihf is am5d$
 by ins]t+ aft] "p ,,vi ! foll[+ new "p3

  ,,vii ,surtax = ,e>ly ,education ,tru/
 ,fund  ,sec4 #ei;,a4 ,surtax = ,e>ly   
,education ,tru/ ,fund4  #ei;,a4 ,surtax
 = ,e>ly ,education ,tru/ ,fund  7a7    
,imposition ( tax ,9 ! case ( a taxpay] 
o!r ?an a corporation & an e/ate or     
tru/1 !re is h]eby impos$ 79 addition to
 any o!r tax impos$ by ?is subtitle7 a  
tax equal to #a4e p]c5t ( s mu* ( !     
adju/$ gross income ( ! taxpay] z exce$s
 #ejj1jjj4  7b7 ,n treat$ z tax impos$  
by ?is *apt] = c]ta9 purposes ,! tax    
impos$ "u ?is section %all n be treat$ z
 tax impos$ by ?is *apt] = purposes (   
det]m9+ ! am\nt ( any cr$it "u ?is *apt]
 or = purposes ( section #ee4  4  7b7   
,cl]ical am5dm5t ,! table ( p>ts =      
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by ins]t+ aft] ! item relat+ to "p
 ,,vi ! foll[+ new item3  ,"p ,,vii4    
,surtax = ,e>ly ,education ,tru/ ,fund4 
4  7c7 ,section #ae ,n ,to ,apply ,!    
am5dm5t made by subsection 7a7 %all n be
 treat$ z a *ange 9 a rate ( tax =      
purposes ( section #ae ( ! ,int]nal     

,rev5ue ,code ( #aihf4  7d7 ,effective  
date ,! am5dm5ts made by ?is section    
%all apply to taxable ye>s beg9n+ aft]  
,decemb] #ca1 #bjaf4