(a) For the fiscal years ending June 30, 2023, and June 30, 2024, the Office of Early Childhood shall administer an emergency stabilization grant program for school readiness programs, as defined in section 10-16p, and child care centers receiving state financial assistance pursuant to section 8-210. The office shall provide grants-in-aid to those school readiness programs and child care centers who meet the eligibility criteria set forth in the guidelines developed pursuant to subsection (b) of this section, and submit an application for a grant, on a form and in such manner as prescribed by the office. A grant awarded under this section may be expended by such school readiness program or child care center for programmatic or administrative needs, in accordance with the guidelines developed by the office pursuant to subsection (b) of this section.

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(b) The office shall develop (1) eligibility criteria for school readiness programs and child care centers to be eligible to receive a grant under this section, and (2) guidelines for the expenditure of funds from a grant awarded under this section.