NC S680

Establishes the North Carolina Child Care Finance Agency as a state instrumentality to provide mortgage loans, construction loans, and rehabilitation loans to licensed child care providers when private financing is unavailable on comparable terms

Creates a 12-member board of directors with four-year terms, appointed by the Governor (6 members), Senate President Pro Tempore (3 members), and House Speaker (3 members), requiring expertise in areas including child care, lending, and construction

Authorizes the Agency to issue up to $12 billion in bonds and notes, with loans forgivable after 15 years if providers serve at least 25% more children and at least 50% of children receive child care subsidies

Prioritizes assistance to small providers (fewer than 10 facilities), high-need geographic areas, and high-quality licensed facilities, while also supporting faith-based organizations and employer-provided on-site child care

Appropriates $20 million in non-recurring General Fund money for the 2025-2026 fiscal year and requires the State Treasurer to invest 3.5% of the NC Innovation Fund corpus with the Agency, effective July 1, 2025