As used in the Child Care Facility Loan Act: A. "department" means the early childhood education and care department; B. "facility" means a child care facility operated by a provider, including both family home-based and center-based programs, licensed by the department to provide care to infants, toddlers and children; C. "fund" means the child care facility revolving loan fund; D. "operating capital" means funds needed to meet short-term obligations, such as accounts payable, wages, debt servicing, lease and income tax payments; and E. "provider" means a person licensed by the department to provide child care to infants, toddlers and children pursuant to Section 9-2A-8 NMSA 1978. History: Laws 2003, ch. 316, § 3; 2023, ch. 129, § 11. The 2023 amendment, effective June 16, 2023, defined "operating capital" and revised the definition of "department"; in Subsection A, after "means the", deleted "children, youth and families" and added "early childhood education and care"; and added a new Subsection D and redesignated former Subsection D as Subsection E.
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