Small Business Child Care Investment Act

II 117TH CONGRESS 1ST SESSION S. 1587 To allow nonprofit child care providers to participate in the loan programs of the Small Business Administration. IN THE SENATE OF THE UNITED STATES MAY 12, 2021 Ms. ROSEN (for herself, Ms. ERNST, Ms. DUCKWORTH, and Mr. RUBIO) intro- duced the following bill; which was read twice and referred to the Com- mittee on Small Business and Entrepreneurship A BILL 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 Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Small Business Child 4 Care Investment Act’’. 5 SEC. 2. SMALL BUSINESS LOANS FOR NONPROFIT CHILD 6 CARE PROVIDERS. 7 Section 3(a) of the Small Business Act (15 U.S.C. 8 632(a)) is amended by adding at the end the following: 9 ‘‘(10) NONPROFIT CHILD CARE PROVIDERS.— 10 VerDate Sep 11 2014 23:40 May 26, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1587.IS S1587 kjohnson on DSK79L0C42PROD with BILLS 2 •S 1587 IS ‘‘(A) DEFINITION.—In this paragraph, the 1 term ‘covered nonprofit child care provider’ 2 means an organization— 3 ‘‘(i) that— 4 ‘‘(I) is in compliance with licens- 5 ing requirements for child care pro- 6 viders of the State in which the orga- 7 nization is located; 8 ‘‘(II) is described in section 9 501(c)(3) of the Internal Revenue 10 Code of 1986 and exempt from tax 11 under section 501(a) of such Code; 12 and 13 ‘‘(III) is primarily engaged in 14 providing child care for children from 15 birth to compulsory school age; 16 ‘‘(ii) for which each employee and reg- 17 ular volunteer complies with the criminal 18 background check requirements under sec- 19 tion 658H(b) of the Child Care and Devel- 20 opment Block Grant Act of 1990 (42 21 U.S.C. 9858f(b)); and 22 ‘‘(iii) that may— 23 VerDate Sep 11 2014 23:40 May 26, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S1587.IS S1587 kjohnson on DSK79L0C42PROD with BILLS 3 •S 1587 IS ‘‘(I) provide care for school-age 1 children outside of school hours or 2 outside of the school year; or 3 ‘‘(II) offer preschool or pre- 4 kindergarten educational programs. 5 ‘‘(B) ELIGIBILITY FOR LOAN PROGRAMS.— 6 Notwithstanding any other provision of this 7 subsection, a covered nonprofit child care pro- 8 vider shall be deemed to be a small business 9 concern for purposes of any program under this 10 Act or the Small Business Investment Act of 11 1958 (15 U.S.C. 661 et seq.) under which— 12 ‘‘(i) the Administrator may make 13 loans to small business concerns; 14 ‘‘(ii) the Administrator may guarantee 15 timely payment of loans to small business 16 concerns; or 17 ‘‘(iii) the recipient of a loan made or 18 guaranteed by the Administrator may 19 make loans to small business concerns.’’. 20 Æ VerDate Sep 11 2014 23:40 May 26, 2021 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\S1587.IS S1587 kjohnson on DSK79L0C42PROD with BILLS