Small Business Child Care Investment Act
Bill: S.1587 | Sponsor: Sen. Rosen, Jacky (D-NV)
Policy area: Commerce

Summary:
Small Business Child Care Investment Act
This bill deems certain nonprofit child care providers to be small business concerns so that they may participate in loan programs administered by the Small Business Administration.

To allow nonprofit child care providers to participate in the loan 
             programs of the Small Business Administration.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Child Care Investment 
Act''.

SEC. 2. SMALL BUSINESS LOANS FOR NONPROFIT CHILD CARE PROVIDERS.

    Section 3(a) of the Small Business Act (15 U.S.C. 632(a)) is 
amended by adding at the end the following:
            ``(10) Nonprofit child care providers.--
                    ``(A) Definition.--In this paragraph, the term 
                `covered nonprofit child care provider' means an 
                organization--
                            ``(i) that--
                                    ``(I) is in compliance with 
                                licensing requirements for child care 
                                providers of the State in which the 
                                organization is located;
                                    ``(II) is described in section 
                                501(c)(3) of the Internal Revenue Code 
                                of 1986 and exempt from tax under 
                                section 501(a) of such Code; and
                                    ``(III) is primarily engaged in 
                                providing child care for children from 
                                birth to compulsory school age;
                            ``(ii) for which each employee and regular 
                        volunteer complies with the criminal background 
                        check requirements under section 658H(b) of the 
                        Child Care and Development Block Grant Act of 
                        1990 (42 U.S.C. 9858f(b)); and
                            ``(iii) that may--
                                    ``(I) provide care for school-age 
                                children outside of school hours or 
                                outside of the school year; or
                                    ``(II) offer preschool or 
                                prekindergarten educational programs.
                    ``(B) Eligibility for loan programs.--
                Notwithstanding any other provision of this subsection, 
                a covered nonprofit child care provider shall be deemed 
                to be a small business concern for purposes of any 
                program under this Act or the Small Business Investment 
                Act of 1958 (15 U.S.C. 661 et seq.) under which--
                            ``(i) the Administrator may make loans to 
                        small business concerns;
                            ``(ii) the Administrator may guarantee 
                        timely payment of loans to small business 
                        concerns; or
                            ``(iii) the recipient of a loan made or 
                        guaranteed by the Administrator may make loans 
                        to small business concerns.''.
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