California Welfare and Institutions Code 10303 – The department shall establish a revolving loan fund to provide loans …
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The department shall establish a revolving loan fund to provide loans to child care and development or preschool contracting agencies for capital outlay not to exceed 2 percent or two thousand dollars ($2,000), whichever is greater, of the agency’s contract amount. These loans shall be available with no interest and shall be used to renovate and repair child care or preschool facilities to meet state and local health and safety standards.
(Added by Stats. 2021, Ch. 116, Sec. 260. (AB 131) Effective July 23, 2021.)
Terms Used In California Welfare and Institutions Code 10303
- Capital outlay: means the amount paid for the renovation and repair of childcare and development and preschool facilities to comply with state and local health and safety standards, and the amount paid for the state purchase of relocatable childcare and development and preschool facilities for lease to qualifying contracting agencies. See California Welfare and Institutions Code 10213.5
- Contract: A legal written agreement that becomes binding when signed.