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(i) $25,000,000 in fiscal year 2022;

(ii) $50,000,000 in fiscal year 2023;

(iii) $85,000,000 in fiscal year 2024;

(iv) $110,000,000 in fiscal year 2025; and

(v) $130,000,000 in fiscal year 2026 and each fiscal year thereafter.

[(9)] (10) (i) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.

(ii) Any interest earnings of the Fund shall be credited to the Fund.

[(10)] (11) Expenditures from the Fund may be made only in accordance with the State budget.

9.5–111.

(a) (1) In this section the following words have the meanings indicated.

(3) “Program” means the Child Care Scholarship Program.

(d) (2) Except as provided in paragraph (3) PARAGRAPHS (3) AND (4) paragraph (3) of this subsection, the Department may not make the following alterations to the Program in effect as of January 1, 2023:

(i) Increase the copayment levels;

(ii) (I) Reduce the reimbursement rates; OR

(iii) (II) Reduce the income eligibility requirements[; or

(iv) (III) Implement a freeze in Program enrollment].

(3) (i) The Department may alter the Program in effect as of January 1, 2023, by increasing the copayment levels, reducing the reimbursement rates, OR reducing the income eligibility requirements, [or implementing a freeze in Program enrollment,] if:

1. The Department submits a notification to the Senate Budget and Taxation Committee, the Senate Committee on Education, Energy, and the Environment, the House Appropriations Committee, and the House Ways and Means