As used in the Child Care Facility Loan Act:

Terms Used In New Mexico Statutes 24-24-3

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC

A. “department” means the early childhood education and care department;

B. “facility” means a child care facility operated by a provider, including both family home-based and center-based programs, licensed by the department to provide care to infants, toddlers and children;

C. “fund” means the child care facility revolving loan fund;

D. “operating capital” means funds needed to meet short-term obligations, such as accounts payable, wages, debt servicing, lease and income tax payments; and

E. “provider” means a person licensed by the department to provide child care to infants, toddlers and children pursuant to Section 9-2A-8 N.M. Stat. Ann..

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