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General Assembly Raised Bill No. 1400
January Session, 2025
LCO No. 5470
Referred to Committee on BANKING
Introduced by:
(BA)
AN ACT CONCERNING A CHILD CARE SERVICES LOAN PROGRAM.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (NEW) (Effective October 1, 2025) (a) The Connecticut Health 1
and Educational Facilities Authority shall establish a program to finance 2
low interest loans for child care services. A loan provided under the 3
program shall be made (1) for the purpose of providing financial 4
assistance for child care services, (2) in an amount not exceeding five 5
thousand dollars, provided no borrower under the program may 6
borrow an aggregate amount in excess of twenty-five thousand dollars, 7
and (3) in accordance with the authority's underwriting policy and 8
standards. The repayment options that the authority offers to borrowers 9
shall include income-based repayment options. 10
(b) A person applying for a loan under this section shall submit an 11
application in the form and manner prescribed by the authority. The 12
application shall contain such information as the authority deems 13
necessary to administer the program. 14 Raised Bill No. 1400
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This act shall take effect as follows and shall amend the following
sections:
Section 1 October 1, 2025 New section
BA Joint Favorable