[Congressional Record (Bound Edition), Volume 150 (2004), Part 17]
[Extensions of Remarks]
[Page 23250]
[From the U.S. 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 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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