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, while also helping employers retain and attract employees and stabilize child care providers. 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. These hubs will assist in determining eligibility, recruiting employers and child care providers, and ensuring compliance with program criteria.

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 be responsible for managing the program's implementation and may allocate up to nine percent of their funding for administrative costs. The legislation emphasizes geographic diversity in participation and prioritizes applications from low- or moderate-income employees, essential workers, and public sector employees.