The bill establishes the preK promise account within the state treasury, specifically designated for the early childhood education and assistance program. It mandates that all funds received through gifts, grants, or donations for this account be deposited and tracked separately by the department. Expenditures from the account can only be authorized by the secretary and must exclusively support children in the early childhood education program. Additionally, any remaining balance in the account at the end of the biennium will not revert to the general fund, ensuring that funds are preserved for their intended purpose.

Furthermore, the bill reenacts and amends existing laws related to the treasurer's trust fund, including provisions for the investment income account. Notably, it includes the preK promise account among those that will receive a proportionate share of earnings from the investment income account based on their average daily balance. The bill also includes provisions for its immediate effect and sets an expiration date for certain sections, ensuring that the new account and its regulations are implemented promptly while also establishing a timeline for review and potential renewal.