Bill > S673

This bill, the Small Business Child Care Investment Act, aims to allow nonprofit child care providers to participate in certain loan programs of the Small Business Administration (SBA). The key provisions of the bill are: 1. It defines a "covered nonprofit child care provider" as an organization that is compliant with state licensing requirements, is a tax-exempt 501(c)(3) organization, primarily provides child care services, and complies with criminal background check requirements. 2. It deems these covered nonprofit child care providers to be small business concerns, making them eligible for SBA 7(a) loans and SBA Title V financing, subject to certain requirements. 3. It prohibits the SBA Administrator from determining a covered nonprofit child care provider as ineligible for these loans or financing solely on the basis that the proceeds will be used for a religious activity protected under the First Amendment. 4. It requires the SBA Administrator to submit annual reports to Congress on the number and amount of such loans and financings provided to covered nonprofit child care providers.