Teacher:In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Teacher: Now, understand the problem? Solve this instance: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Early Learning Act of 2015''.

SEC. 2. EXPENDITURES FOR PRE-KINDERGARTEN EDUCATION.

(a) In General.--Not later than August 15 of each year, beginning
with 2018, from amounts in the Early Education Trust Fund established
by section 3, the Secretary of Education (in this section referred to
as the ''Secretary'') shall award to the State pre-kindergarten agency
for each State the amount estimated under subsection (b)(1)(A) for such
State and year, subject to paragraphs (1)(A) and (2) of subsection (d).
(b) Conditions for Awards.--Amounts may only be awarded under
subsection (a) to a State pre-kindergarten agency for a State for a
year if the head of such agency--
(1) submits to the Secretary--
(A) not later than June 15 of such year, an
estimate of the amount described in paragraph (1) of
subsection (c) for such State and year; and
(B) not later than November 1 of such year, for
each enrolled 4-year-old in such State, the number of
hours for which such 4-year-old is enrolled at a pre-
kindergarten program in such State for the school year
beginning in such year; and
(2) provides such assurances as the Secretary may require
that--
(A) such amounts will be used only to support pre-
kindergarten programs;
(B) the State will expend for pre-kindergarten
programs, during the 1-year period beginning on August
15 of such year not less than the amount expended by
the State for such programs during the 1-year period
beginning on August 15 of the previous year; and
(C) each resident of the State who is 4 years old
on October 1 of such year has the opportunity to enroll
in a free pre-kindergarten program.
(c) Amount Described.--
(1) In general.--The amount described in this paragraph is,
with respect to a State and a year, the sum of the products
determined under paragraph (2) for all enrolled 4-year-olds in
the State for the year.
(2) Product determined.--The product determined under this
paragraph for an enrolled 4-year-old for a year is the product
of--
(A) $5 (adjusted annually by the Secretary of
Education for inflation, beginning with 2019, on the
basis of the consumer price index for all urban
consumers); and
(B) the number of hours reported under subsection
(b)(1)(B) for such enrolled 4-year-old for the school
year beginning in such year (not to exceed 1,600).
(d) Adjustments to Payments.--
(1) Reconciliation of payment.--For each State pre-
kindergarten agency for a year:
(A) Overpayment.--If the amount awarded under
subsection (a) is greater than the amount described in
paragraph (1) of subsection (c), the amount to be
awarded under subsection (a) for the following year
shall be reduced by the difference between such
amounts.
(B) Underpayment.--If the amount awarded under
subsection (a) is less than the amount described in
paragraph (1) of subsection (c), not later than
December 31 of such year, from amounts in the Early
Education Trust Fund established by section 3, the
Secretary shall award to such State pre-kindergarten
agency the difference between such amounts, subject to
paragraph (2).
(2) Insufficient funds.--If, as of a date, the amounts
available to be awarded on such date from the Early Education
Trust Fund are less than the amounts to be awarded on such date
under this section without regard to this paragraph, the
Secretary shall ratably reduce the amounts to be awarded.
(e) Definitions.--In this section:
(1) Enrolled 4-year-old.--The term ''enrolled 4-year-old''
means, with respect to a year, an individual who, as of October
1 of such year--
(A) is 4 years old; and
(B) is enrolled at a pre-kindergarten program for
at least 900 hours for the school year beginning in
such year.
(2) Pre-kindergarten program.--The term ''pre-kindergarten
program'' means a program that is--
(A) offered by a nonprofit or governmental entity;
(B) designed to provide pre-kindergarten education
for at least 900 hours during a school year; and
(C) accredited by the State pre-kindergarten agency
for the State in which such program operates or by
another accrediting entity approved by such State.
(3) State pre-kindergarten agency.--The term ''State pre-
kindergarten agency'' means, with respect to a State, the
agency responsible for oversight of pre-kindergarten education
in the State.

SEC. 3. EARLY EDUCATION TRUST FUND.

(a) Creation of Trust Fund.--There is hereby established in the
Treasury of the United States a trust fund to be known as the ''Early
Education Trust Fund'', consisting of such amounts as may be
appropriated or credited to such Trust Fund as provided in this
section.
(b) Transfer to Trust Fund of Amounts Equivalent to Certain
Taxes.--There are hereby appropriated to the Early Education Trust Fund
amounts equivalent to the taxes received in the Treasury under section
59A of the Internal Revenue Code of 1986 (relating to surtax for Early
Education Trust Fund).
(c) Expenditures From Trust Fund.--Amounts in the Early Education
Trust Fund shall be available, without further appropriation, to carry
out section 2.
(d) Administrative Provisions.--
(1) Transfer of amounts.--The amounts appropriated by
subsection (b) shall be transferred at least monthly from the
general fund of the Treasury to the Early Education Trust Fund
on the basis of estimates made by the Secretary of the Treasury
of the amounts referred to in such subsection. Proper
adjustments shall be made in the amounts subsequently
transferred to the extent prior estimates were in excess of or
less than the amounts required to be transferred.
(2) Management.--The Early Education Trust Fund shall be
managed under the rules specified in section 9602 of the
Internal Revenue Code of 1986.

SEC. 4. SURTAX FOR EARLY EDUCATION TRUST FUND.

(a) In General.--Subchapter A of chapter 1 of the Internal Revenue
Code of 1986 is amended by inserting after part VI the following new
part:

''PART VII--SURTAX FOR EARLY EDUCATION TRUST FUND

''Sec. 59A. Surtax for Early Education Trust Fund.

''SEC. 59A. SURTAX FOR EARLY EDUCATION TRUST FUND.

''(a) Imposition of Tax.--In the case of a taxpayer other than a
corporation and an estate or trust, there is hereby imposed (in
addition to any other tax imposed by this subtitle) a tax equal to 1.5
percent of so much of the adjusted gross income of the taxpayer as
exceeds $500,000.
''(b) Not Treated as Tax Imposed by This Chapter for Certain
Purposes.--The tax imposed under this section shall not be treated as
tax imposed by this chapter for purposes of determining the amount of
any credit under this chapter or for purposes of section 55.''.
(b) Clerical Amendment.--The table of parts for subchapter A of
chapter 1 of such Code is amended by inserting after the item relating
to part VI the following new item:

''Part VII. Surtax for Early Education Trust Fund.''.

(c) Section 15 Not To Apply.--The amendment made by subsection (a)
shall not be treated as a change in a rate of tax for purposes of
section 15 of the Internal Revenue Code of 1986.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2016.
Student:
Early Learning Act of 2015 This bill requires the Department of Education (ED) to make annual awards from the Early Education Trust Fund, established in this bill, to state pre-kindergarten agencies according to a formula based on pre-kindergarten enrollment in the state. To be eligible for an award, a state must provide assurances that: (1) the award will be used only to support pre-kindergarten programs, (2) the state will not expend less for pre-kindergarten programs in the award period than it did in the previous year, and (3) each resident in the state who is four years old on October 1 of the award year has the opportunity to enroll in a free pre-kindergarten program. This bill amends the Internal Revenue Code to impose a surtax, equal to 1.5% of a taxpayer's adjusted gross income as exceeds $500,000, to support the fund.