20-78-506. Criteria for grant approval.

Arkansas Code — all titles (historical 2020) · legal_authorities

20-78-506. Criteria for grant approval. The Division of Child Care and Early Childhood Education of the Department of Human Services is authorized to develop and implement criteria for grant approval of interest moneys to be used as authorized in § 20-78-503(d).

Source: Arkansas Code — historical release 78 (November 6, 2020) · 20-78-506

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.

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Arkansas Code — all titles (historical 2020) · legal_authorities

20-78-503. Arkansas Child Care Facilities Loan Guarantee Trust Fund.

20-78-503. Arkansas Child Care Facilities Loan Guarantee Trust Fund. (a) There is established a cash fund account of the Division of Child Care and Early Childhood Education of the Department of Human Services to be known as the “Arkansas Child Care Facilities Loan Guarantee Trust Fund”. This cash fund account is to be maintained in one (1) or more financial institutions of the state and shall be administered in accordance with this subchapter. (b) The division is hereby authorized to accept moneys for the fund from any source, including, but not limited to, allocations from the Treasurer of State as provided in § 20-78-504. (c) The fund shall be a continuing fund, not subject to fiscal year limitations, and shall be used to guarantee loans for the expansion or development of childcare facilities in this state and as provided in subsection (d) of this section. (d) Any interest at the end of the fiscal year which exceeds the amount necessary to cover loan defaults occurring during that fiscal year shall be made available for professional development and quality improvement activities and grants, including without limitation to support an early childhood foundation or public-private partnership. (e) The fund shall be administered by the division with technical assistance from the Arkansas Early Childhood Commission and the Arkansas Development Finance Authority.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 20-78-503

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 20-78-503. This identifies an authority to review, not proof of applicability.