HOUSE BILL REPORT

                 SSB 5583

             As Reported By House Committee on:

                Trade & Economic Development

Title:  An act relating to the child care facility fund.

Brief Description:  Pertaining to the child care facility fund.

Sponsor(s):  Senate Committee on Commerce & Labor (originally sponsored by Senators Anderson, McMullen, Moore, L. Smith and Oke; by request of Dept. of Trade and Economic Development).

Brief History:

  Reported by House Committee on:

Trade & Economic Development, March 28, 1991, DP.

HOUSE COMMITTEE ON

TRADE & ECONOMIC DEVELOPMENT

Majority Report: Do pass.  Signed by 8 members:  Representatives Cantwell, Chair; Sheldon, Vice Chair; Forner, Ranking Minority Member; Betrozoff, Assistant Ranking Minority Member; Ferguson; Kremen; Rasmussen; and Riley.

Staff:  Charlie Gavigan  (786-7340).

Background:  The Child Care Facility Fund was established in 1989.  The fund makes one-time loans or grants, or loan guarantees to individuals, businesses, and other organizations to start or expand a licensed child care facility.  The loans, grants, or loan guarantees cannot exceed $25,000.

The Child Care Facility Fund is administered by the Department of Trade and Economic Development's Business Assistance Center through a five member committee.

Summary of Bill:  The Child Care Facility Fund becomes a revolving loan fund.  The maximum loan amount per applicant is changed from $25,000 to $100,000. 

Fiscal Note:  Requested March 27, 1991.

Effective Date:  Ninety days after adjournment of session in which bill is passed.

Testimony For:  This allows the loan repayments to be added to the fund and used without specific appropriations.  Increasing the maximum loan amount gives the fund more flexibility.

Testimony Against:  None.

Witnesses:  Senator Ann Anderson, prime sponsor.