(a) (1) The Child Care Facilities Revolving Fund is hereby
established in the State Treasury to provide funding for the
renovation, repair, or improvement of an existing building to make
the building suitable for licensure for child care and development
services and for the purchase of new relocatable child care
facilities for lease to school districts and contracting agencies
that provide child care and development services, pursuant to this
chapter. The Superintendent may transfer state funds appropriated for
child care facilities into this fund for allocation to school
districts and contracting agencies, as specified, for the purchase,
transportation, and installation of facilities for replacement and
expansion of capacity. School districts and contracting agencies
using facilities made available by the use of these funds shall be
charged a leasing fee, either at a fair market value for those
facilities or at an amount sufficient to amortize the cost of
purchase and relocation, whichever amount is lower, over a 10-year
period. Upon full repayment of the purchase and relocation costs,
title shall transfer from the State of California to the school
district or contracting agency. The Superintendent shall deposit all
revenue derived from the lease payments into the Child Care
Facilities Revolving Fund.
(2) Notwithstanding Section 13340 of the Government Code, all
moneys in the fund, including moneys deposited from lease payments,
are continuously appropriated, without regard to fiscal years, to the
Superintendent for expenditure pursuant to this article.
(b) On or before August 1 of each fiscal year, the Superintendent
shall submit to the Department of Finance and the Legislative Analyst'
s Office a report detailing the number of funding requests received
and their purpose, the types of agencies that received funding from
the Child Care Facilities Revolving Fund, the increased capacity that
these facilities generated, a description of the manner in which the
facilities are being used, and a projection of the lease payments
collected and the funds available for future use.
(c) A school district or county office of education that provides
child care pursuant to the California School Age Families Education
Program (Article 7.1 (commencing with Section 54740) of Chapter 9 of
Part 29 of Division 4 of Title 2) is eligible to apply for and
receive funding pursuant to this section.