Amends the National Housing Act to authorize the Secretary of Housing and Urban Development (HUD) to insure mortgages for: (1) new or rehabilitated child care and development facilities, including for fire safety equipment loans; and (2) acquiring or refinancing debt of existing child care facilities.
Directs the Secretary of the Treasury to study the availability of secondary markets for mortgages on child care facilities.
Authorizes HUD grants to eligible nonprofit organizations for technical and financial assistance to assist eligible child care providers in acquiring or improving facilities or equipment.
Applies the provisions of the Davis-Bacon Act to actions taken under this Act.