NC S288

Increases child care subsidy market rates to the 75th percentile based on the 2021 Child Care Market Rate Study for 3-, 4-, and 5-star-rated centers and homes, effective October 1, 2023.

Implements automatic increases to the 75th percentile whenever new market rate studies are completed, beginning July 1 of the following fiscal year.

Appropriates $24,000,000 in recurring General Fund dollars for fiscal year 2024-2025 to implement the market rate increases.

Sets a statewide payment floor for counties with rates below the state rate, with an exception for counties with fewer than 50 children per age group where the county rate may be applied.

Appropriates $14,000,000 for fiscal year 2023-2024 and $85,000,000 for fiscal year 2024-2025 to implement temporary market rate increases based on the 2021 study.