Declares it to be in the public interest to establish a program that: (1) Allows parents to bond with a newborn or newly placed child, and workers to care for seriously ill family members or recover from their own serious health condition, regardless of the size of their employer;

(2) Provides limited and additional income support for a reasonable period while an individual is away from work on family and medical leave;

(3) Reduces the impact on state income support programs by increasing an individual's ability to provide caregiving services for family members while maintaining an employment relationship; and

(4) Establishes a wage replacement benefit to be coordinated with current existing state and federal family and medical leave laws.