California Welfare and Institutions Code

§ 10309.5

WIC § 10309.5 Effective Jul 23, 2021Div. 9 · Part 1.8 · Ch. 13

Statute text

(a)The department shall contract with a nonprofit organization to serve as a financial intermediary. The nonprofit organization shall have staff who have expertise in financing and capital expansion, are knowledgeable about the child care and preschool field, and have the ability to develop and implement a plan to increase the availability of financing to renovate, expand, and construct child day care and preschool facilities, both in day care centers and family child care homes.

(b)The financial intermediary selected by the department shall undertake activities designed to increase funds available from the private and public sectors for the financing of child day care and preschool facilities. These activities shall include, but are not limited to, all of the following:

(1)Soliciting capital grants and program-related investments from foundations and corporations.

…

Legislative history

Added by Stats. 2021, Ch. 116, Sec. 260. (AB 131) Effective July 23, 2021.