Directs Department of Early Learning and Care to develop, implement and administer Oregon Imagination Library Project to improve reading proficiency and high school graduation rates by providing enrolled children with one age-appropriate book per child each month.] Establishes Imagination Library of Oregon Program to provide free book each month to eligible children, encourage children to develop love of reading and learning, and improve third-grade reading proficiency and high school graduation rates. Directs Department of Early Learning and Care to implement program. Establishes Oregon Imagination Library Account within Department of Early Learning and Care Fund for purposes of funding project] program. Declares emergency, effective July 1, 2023.