VA HB1208

Requires the Virginia Department of Education to establish and maintain calculations for estimating per-biennium funding needed to address parental demand for early childhood care and education services

Calculations must include annual per-child costs for the Virginia Preschool Initiative, Mixed Delivery Program, and Child Care Subsidy Program based on current and re-benchmarked methodologies

Prioritizes slot expansion for localities identified as child care deserts and areas with active economic development initiatives or public-private partnerships focused on increasing child care supply

Allows up to $5 million in prior-year unexpended state general funds to be carried forward to reduce or eliminate waitlists, without increasing base funding requirements for subsequent fiscal years

Mandates the Department submit an annual report by the third Wednesday in October to the Commission on Early Childhood Care and Education detailing the data used for funding calculations