Requires child care subsidy rate paid for certain children to equal school district's per pupil preschool education aid; appropriates funds.

This bill requires New Jersey to pay child care subsidies to eligible families for preschool-aged children at a rate equal to the per-pupil preschool education aid given to public schools. The policy specifically applies to three- and four-year-olds enrolled in licensed or registered child care programs that participate in the state's assistance program. To receive this higher reimbursement, child care providers must be rated as high quality under the Grow NJ Kids rating system and apply annually for the subsidy. The Department of Human Services will adjust these rates each year based on current school funding levels and must report annually on how many families and providers benefit from the change.