Perkins Fund for Equity and Excellence This bill amends the Carl D. Perkins Career and Technical Education Act of 2006 to replace the existing Tech Prep program with a new competitive grant program to support career and technical education. Under the program, local educational agencies and their partners may apply for grant funding to support: career and technical education programs that are aligned with postsecondary education programs, dual or concurrent enrollment programs and early college programs, certain evidence-based strategies and delivery models related to career and technical education, teacher and leader experiential and informational-gathering site visits, professional development of educators and business partners, structured interdisciplinary collaboration and common planning time, teacher and leader externship programs, cross-credentialing for teachers, paid student internships or other paid work-based learning experiences, and guidance counseling. Unless granted a waiver, a grant recipient must provide specified matching funds in the fourth and fifth years of the five-year grant.