The Statewide Imagination Library Program is hereby established under the administration of the State Librarian for purposes of developing, implementing, promoting, and fostering a comprehensive statewide initiative for encouraging children from birth to five years of age, inclusive, to develop a love of reading and learning.

basis to prevent undue financial hardship.

The State Librarian shall coordinate with a nonprofit entity, qualified under Section 501(c)(3) of the Internal Revenue Code, and organized solely to promote and encourage reading by the children of the state, for the purpose of implementing this article.

The State Librarian shall do all of the following:

2028, and annually thereafter, on all of the following:

(A) The deposits made to, and expenditures made from, the Imagination Library of California Fund.

(B) Whether any local match requirements were waived.

(C) How many local programs exist, where they are located, and which entity or organization serves as the local partner.

(D) How many children are enrolled and how many books have been sent to enrolled children.

The California State Library may promulgate regulations as may be needed for the administration of the Statewide Imagination Library Program.