CA AB2107

Creates the California Preschool Investment Fund to accept monetary contributions for preschool funding through a five-county pilot program operating until January 1, 2020.

Establishes a 40% personal income tax and corporation tax credit for taxpayers who contribute to the fund for taxable years beginning January 1, 2015 through December 31, 2018, with a combined aggregate cap of $250,000,000 per calendar year.

Requires the State Department of Education to select five participating counties by September 1, 2015, prioritizing those with long waitlists for child care assistance, ability to increase preschool slots, and federal Race to the Top funding status.

Directs fund revenues first to the General Fund to cover tax credits claimed, then to reimburse administrative costs for the Franchise Tax Board and Department of Education, with remaining funds supporting state preschool programs in participating counties.

Requires participating counties to submit annual reports to the Department of Education assessing pilot program performance, with any remaining fund balance transferred to other state programs providing preschool access for low-income children after January 1, 2020.