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Montana committee hears plan for $150 million child-care endowment to fund grants and workforce supports
Summary
Sen. Laura Smith told the House Health and Human Services Committee that SB 565 would create a $150 million endowment whose interest funds grants for child-care workforce development, technical assistance, recruitment/retention and affordability. Proponents representing providers, advocates and business groups urged passage; DPHHS clarified administration and fiscal-note errors.
Sen. Laura Smith, sponsor of Senate Bill 565, told the House Health and Human Services Committee that the bill would create a $150 million corpus endowment for early childhood and child-care supports, with only the interest spent on grants for workforce development, technical assistance, recruitment and retention, and programs to improve affordability.
Proponents described the measure as a long-term funding solution. "This bill creates a long term endowment that generates a sustainable revenue through interest earnings, not ongoing state dollars," said Kaitlyn Jensen, executive…
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