The proposed legislation establishes a five-year Tri-Share Child Care Pilot Program in New Jersey, aimed at creating a public-private partnership to share child care costs among employers, eligible employees, and the State. Each party will contribute one-third of the eligible child care costs, with the program designed to make high-quality child care more affordable and accessible for working families, assist employers in retaining and attracting employees, and stabilize child care providers across the state. The Commissioner of Labor and Workforce Development, in consultation with the Commissioner of Children and Families, will oversee the program and select between three to five regional facilitator hubs to administer it.

The bill appropriates $15 million from the General Fund to support the program and mandates the commissioner to submit annual reports to the Governor and Legislature on the program's effectiveness, including metrics such as the number of children served, total program costs, and recommendations for future actions. The regional facilitator hubs will play a crucial role in determining eligibility, recruiting employers and child care providers, and ensuring equitable distribution of costs. Additionally, the bill emphasizes that participation in the program should not reduce existing employer-provided child care benefits and allows for administrative costs to be covered by the allocated funds.