• Establishes a right to voluntary preschool for all four-year old children.

• Funded by a 1.7% tax on individual incomes above $400,000; $800,000 for couples.

• Administered by the state Superintendent of Public Instruction and county school superintendents.

• Directs counties to prepare reports on curricula, outreach, facilities, childcare coordination, budgeting, teacher recruitment and pay.

• Limits administrative expenses; requires program audits.

• Requires state Superintendent to develop a preschool teaching credential with financial aid for credential students.

• Excludes revenue from appropriation limits, Proposition 98 calculations.