As used in the Child Care Facility Loan Act:A. 'department' means the early childhood education and care department; B. '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; C. 'fund' means the child care facility revolving loan fund;D. 'operating capital' means funds needed to meet short-term obligations, such as accounts payable, wages, debt servicing, lease and income tax payments; andE. 'provider' means a person 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.ANNOTATIONSThe 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.
New Mexico Legal Code