H.R.5207 - Children's Development Commission Act (Kiddie Mac)109th Congress (2005-2006)
Summary: H.R.5207 — 109th Congress (2005-2006)
Introduced in House (04/26/2006)
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.