CA AB2731

Imposes an additional 17% tax on income derived from "investment management services interests" (providing investment advice, managing assets, or arranging financing for specified assets) beginning January 1, 2018.

Creates the College, Career, and Community Ready Fund to receive tax revenues, which are continuously appropriated to the State Department of Education for distribution to local educational agencies based on average daily attendance.

Requires apportioned funds to support career technical education, early childhood education, and counseling/support programs addressing social-emotional, mental, physical, and academic health, with at least 10% but no more than 50% allocated to each category.

Directs the Franchise Tax Board to report to the Legislature within 30 days if Congress passes identical federal legislation, allowing the Legislature to decide whether to repeal, make inoperative, or continue the state tax.

Declares the act an urgency statute to take effect immediately upon enactment.