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Ref To Com On Rules, Calendar, and Operations of the House2025-04-14

Vote Breakdown

No floor votes recorded.

Plain Language Summary

This bill creates the North Carolina Child Care Finance Agency, a new state agency that will provide financing (loans, mortgage insurance, and bonds) to help construct and rehabilitate child care facilities across the state. The agency will be governed by a 12-member board and funded with $20 million in state appropriations and 3.5% of the Innovation Fund.

Arguments in Favor

• •Supporters argue this bill addresses a critical shortage of affordable, accessible child care that harms North Carolina's workforce and economy.
• •They contend the private sector alone has not built sufficient child care capacity, and the agency will remove barriers to employment by expanding supply.
• •The bill prioritizes small providers, high-quality facilities, faith-based organizations, and employer-sponsored childcare, while offering loan forgiveness to providers serving low-income families and expanding their capacity.

Arguments Against

• •Opponents may worry about the financial risk of issuing up to $12 billion in bonds backed by the agency's revenues rather than state credit, potentially burdening taxpayers if loans default.
• •They may also question whether state-backed financing is the most efficient solution, whether the agency will effectively reach underserved rural areas, and whether the $20 million initial funding is sufficient for the stated goals.