H.R.5207 - Children's Development Commission Act (Kiddie Mac)

To amend the National Housing Act to authorize the Secretary of Housing and Urban Development to insure mortgages for the acquisition, construction, or substantial rehabilitation of child care and development facilities and to establish the Children's Development Commission (Kiddie Mac) to certify such facilities for such insurance, and for other purposes. view all titles (2)

All Bill Titles

  • Short: Children's Development Commission Act (Kiddie Mac) as introduced.
  • Official: To amend the National Housing Act to authorize the Secretary of Housing and Urban Development to insure mortgages for the acquisition, construction, or substantial rehabilitation of child care and development facilities and to establish the Children's Development Commission (Kiddie Mac) to certify such facilities for such insurance, and for other purposes. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
04/26/06
 
 
 
 
 
 
 

Official Summary

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 equipme

Official Summary

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.

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