Summary: H.R.1112 — 106th Congress (1999-2000)All Information (Except Text)

There is one summary for H.R.1112. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/16/1999)

Children's Development Commission Act (Kiddie Mac) - Amends the National Housing Act to authorize the Secretary of Housing and Urban Development to insure mortgages for: (1) new or rehabilitated child care and development facilities, including mortgage insurance for fire safety equipment loans; and (2) purchase or refinance of existing child care and development facilities.

Establishes the Children's Development Commission which shall: (1) issue facility standards and compliance certifications; and (2) make loans not in excess of $50,000 for facility rehabilitation or renovation. Authorizes appropriations.

Directs the Secretary of the Treasury to conduct a study of the availability of child care facility secondary mortgage markets.