S.B. 810                                                  VETOES

(c)     "Direct Loan Fund" means the Child Care Facilities Direct Loan Fund.

(d)     "Child care facility" means a facility in which care is offered for 7 or more
children.

[6-2A-02.] 6-202.

There is a Child Care Facilities Direct Loan Fund administered by the Department.

[6-2A-03.] 6-203.

(a)     The Direct Loan Fund shall be used as a nonlapsing revolving fund to make
direct loans for the expansion or development of child care facilities in this State.

(b)     The Secretary of the Department may delegate the authority to approve direct
loans to any board which exists or may be created within the Department.

[6-2A-04.] 6-204.

(a)     All receipts designated for the Direct Loan Fund shall be placed in the Direct
Loan Fund and administered by the Department including:

(1)     Moneys appropriated by the State to the Direct Loan Fund;

(2)     Premiums, fees, interest payments, and principal payments on direct
loans;

(3)     Income from investments that the State Treasurer, on instruction of the
Department, makes for the Department under this subtitle;

(4)     Proceeds from the sale, disposition, lease, or rental of collateral relating
to direct loans; and

(5)     Any other moneys made available to the Direct Loan Fund.

(b)     The Direct Loan Fund shall be used to pay all expenses and disbursements
authorized by the Department for administering the Direct Loan Fund, and financing the
expansion or development of child care facilities in this State, including, by way of
example:

(1)     Advances of loan proceeds for direct loans; and

(2)     Expenses for administrative, legal, actuarial, technical assistance, and
other services.

(c)     In making direct loans under this subtitle, consideration shall be given to:

(1)     Geographic distribution;

(2)     Community need; and

(3)     Community income, with priority given to those communities with the
lowest median family income.

[6-2A-05.] 6-205.

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