H.R.5265 - Children's Development Commission Act (Kiddie Mac)108th Congress (2003-2004)
|Sponsor:||Rep. Maloney, Carolyn B. [D-NY-14] (Introduced 10/07/2004)|
|Committees:||House - Financial Services|
|Latest Action:||11/03/2004 Referred to the Subcommittee on Housing and Community Opportunity. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5265 — 108th Congress (2003-2004)All Information (Except Text)
Introduced in House (10/07/2004)
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 (Kiddie Mac) 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.