S.B. No. 1617 proposes the establishment and management of the Child Care Protection and Enhancement Fund, which is defined as a trust fund held outside the treasury by the Texas Treasury Safekeeping Trust Company and administered by the Texas Workforce Commission. The fund is intended for the creation and improvement of state parks, with specific provisions for its investment and management to ensure liquidity and appropriate use of funds. The bill outlines that the trust company will manage the fund's assets, and the Texas Workforce Commission will request annual distributions from the fund to increase capacity and rates for subsidized childcare in Texas.

Additionally, the bill stipulates that any disbursement requests from the Texas Workforce Commission must be approved by the Texas Workforce Commissioners and the Texas Comptroller of Public Accounts, with a default approval mechanism in place if no action is taken within 30 days. It also prohibits the use of fund money for salaries, employee benefits, or operational costs of the department, and mandates that all expenditures are subject to audit by the state auditor. The act is set to take effect on January 1, 2026, contingent upon the approval of a related constitutional amendment by voters.