[Congressional Record Volume 150, Number 129 (Sunday, October 10, 2004)]
[Extensions of Remarks]
[Pages E1856-E1857]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       INTRODUCTION OF THE CHILDREN'S DEVELOPMENT COMMISSION ACT

                                 ______
                                 

                        HON. CAROLYN B. MALONEY

                              of new york

                    in the house of representatives

                       Thursday, October 7, 2004

  Mrs. MALONEY. Mr. Speaker, today I am re-introducing legislation that 
is intended to help solve the shortage of available, affordable child 
care facilities. In my congressional district in New York City, more 
than half of all women with pre-school children are in the workforce 
and the need for child care is enormous. This is not a local problem 
but one that is national in nature.
  The ``Children's Development Commission Act'' or ``Kiddie Mac,'' will 
address this problem by authorizing HUD to issue guarantees to lenders 
who are willing to lend money to build or rehabilitate child care 
facilities. It also

[[Page E1857]]

creates the Children's Development Commission which will certify the 
loans and create federal child care standards. Kiddie Mac will also 
give ``micro-loans'' to facilities which need to make the necessary 
changes to come up to licensing standards, as well as provide them with 
lower cost fire and liability insurance. Through some of the premiums 
paid by the lenders, a non-profit foundation will be formed which would 
focus on research on child care and development, as well as create 
educational materials to guide potential providers through the 
certification process.
  It is late in the session but I urge my colleagues to consider the 
proposal and join me in enacting it this year or in a future Congress.

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