AN ACT INCREASING RESOURCES FOR STUDENTS, SCHOOLS AND SPECIAL EDUCATION.

Added comprehensive definitions for key terms including 'Designated beneficiary', 'Eligible board of education', 'Covered child', 'Eligible expense', 'Unpaid portion', and 'Trust'.

Established the Universal Preschool Trust as a state instrumentality that receives unappropriated surplus funds from the General Fund starting in fiscal year 2025.

Created a phased implementation schedule (Phase I through IV) where funding disbursement depends on achieving specific investment return thresholds.

Removed the original bill's purpose statement about improving education quality and replaced it with specific operational requirements for the new trust.

Changed eligibility criteria for boards of education to require Smart Start grant eligibility, full-day preschool programs, and no tuition charges (with specific exceptions for subsidies).