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Senate committee reviews repeal of dormant childcare facility revolving loan fund
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Summary
Senate staff told the committee SB 263 would repeal the childcare facility revolving loan fund, its foreclosure expense account, and the related program; the bill was set aside after staff said the fund was established in 1976, no loans had been made for at least 20 years, and accounts appear to hold zero dollars.
Senate staff presented SB 263 on March 9 as part of the session’s effort to repeal inactive state funds gathered in the 2025 Legislative Finance Division report. Takuma Inouye said SB 263 focuses on childcare-specific accounts: the childcare facility revolving loan fund, the fund's foreclosure expense account, and the program authorizing the fund.
Inouye told the committee that, according to the LFD report, the childcare facility revolving loan fund was established in 1976 to help childcare facilities comply with licensing or certification requirements, but no loans have been made from the program for at least 20 years. "No loans have been made from this program for at least 20 years," Inouye said. He added that the statute as written does not appear to give an advantage over private financing and could be repealed or modified if the legislature prefers a different approach.
When asked about dollar amounts in the accounts, Inouye said the accounts his office reviewed appear to contain zero dollars. The committee set SB 263 aside for further consideration at a future meeting.
