CHILD CARE FACILITY LOAN FUND CHANGES

SB 175 amends New Mexico's Child Care Facility Revolving Loan Fund to allow loans for employers creating or expanding child care programs for their own employees, in addition to existing loans for child care providers. It requires employers receiving such loans to operate in designated child care deserts, serve at least 50% of children using subsidized care programs, and increase capacity by 10% within five years. The bill maintains existing priorities for providers serving low-income families in high-poverty areas and limits single-provider loans to 20% of the fund. This expands the fund's use beyond facility improvements to support employer-sponsored child care as a new mechanism for increasing access.