Protecting Childcare from Private Equity Act

This bill would require the Securities and Exchange Commission, within one year, to collect information from certain large private investment funds about their ownership, purchase, and sale of businesses that provide childcare, and to send Congress a yearly report with anonymized data. For four years after such a fund first takes control of a childcare business, the fund could not sell its interest in that business, and the business could not pay dividends, make capital distributions, or buy back shares from the fund. The Government Accountability Office would study how private equity ownership affects childcare quality, available spots, tuition, and worker wages, and report to Congress within two years. The rules apply to private funds with more than $150 million in assets that provide childcare at more than 25 locations.

Full text and official record on Congress.gov

Sponsors

• Josh Riley Democrat sponsor
• 5 cosponsors