Section 5-348 - Use of Proceeds

(a) The proceeds of a child care special loan may be used: (1) to assist the applicant in meeting applicable State and local child care standards; (2) to pay for minor renovations, and to upgrade child care facilities, to ensure that applicants meet State and local child care standards; or (3) to purchase and install equipment and furniture, including equipment needed to accommodate children with special needs. (b) Except as provided in subsection (a) of this section, the proceeds of a child care special loan may not be used: (1) to purchase or improve land; or (2) to purchase, construct, or improve a building or facility.