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More than 9,000 low-income Colorado families are in line for state subsidies to help pay for childcare so parents can work or attend school. Now, a bipartisan group of lawmakers has introduced a bill that could shrink the wait by sending additional money to counties where working parents need help.

Senate Bill 180, introduced Monday, would create a new investment authority that could seek higher returns on certain pots of state money than what state investments typically produce. Some of the proceeds from the higher-yield investments would help low-income families pay for…