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 for three- and four-year-olds at a rate equal to the state's per-pupil preschool education funding, but only for high-quality programs rated by the Grow NJ Kids system. It establishes an annual review process to adjust these subsidy amounts based on current education aid figures and mandates that the Division of Family Development create an application process for eligible providers. Additionally, the legislation directs state agencies to publish application information online and submit annual reports to the Governor and Legislature detailing the number of participating children and total spending, while also appropriating necessary funds from the General Fund.