As used in the Child Care Facility Loan Act:

1. A. "authority" means the New Mexico finance authority;
2. B. "department" means the early childhood education and care department;
3. C. "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;
4. D. "fund" means the child care facility revolving loan fund;
5. E. "operating capital" means funds needed to meet short-term obligations, such as accounts payable, wages, debt servicing, lease and income tax payments; and
6. F. "provider" means a person, entity or employer 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; 2025, ch. 14, § 1.

ANNOTATIONS

The 2025 amendment, effective June 20, 2025, defined "authority" and revised the definition of "provider" as used in the Child Care Facility Loan Act; added a new Subsection A, and redesignated the succeeding subsections accordingly; and in Subsection F, after "means a person" added "entity or employer".

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.