Bill > H952

This bill establishes the North Carolina Child Care Finance Agency, a new public agency designed to address the state's serious shortage of accessible and affordable child care. The agency will have a 12-member board appointed by the Governor and General Assembly, representing diverse backgrounds in workforce development, child care, finance, and construction. Its primary objectives include providing financing for child care facility construction and rehabilitation, encouraging private investment in child care infrastructure, and increasing child care access for families across income levels. The agency will have broad powers to make and insure loans, issue bonds, provide technical assistance to child care providers, and prioritize support for smaller providers and high-quality facilities. The bill allocates $20 million in initial funding and requires the State Treasurer to invest 3.5% of the North Carolina Innovation Fund with the agency. Key provisions include offering forgivable loans to child care providers who expand their services and serve more children receiving subsidies, establishing mortgage insurance mechanisms, and creating a framework for financing child care facilities with an emphasis on increasing workforce participation and child development. The agency is structured to operate independently but will be subject to oversight by legislative committees and required to submit annual comprehensive reports.

Government Affairs

https://www.ncleg.gov/BillLookUp/2025/H952