Child Development Act

TABLE OF CONTENTS: Title I: Child Care and Development Block Grant Title II: Supporting Family Choices in Child Care Title III: Quality Child Care Loan Forgiveness Title IV: Offsets Child Development Act - Title I: Child Care and Development Block Grant - Amends the Child Care and Development Block Grant Act of 1990 (CCDBGA) to authorize appropriations through FY 2003 for: (1) direct child care and quality improvement activities; and (2) specified additional activities. Includes among such additional activities: (1) child care programs in general; (2) out-of-school care for school- age children; (3) improving availability of quality child care services; (4) challenge grants to increase the availability and quality of child care; (5) professional development activities and compensation; and (6) child care capital financing programs. (Sec. 103) Requires establishment of State and local child care coordinating boards to carry out specified duties, including ones currently given to designated State and local agencies. (Sec. 104) Requires State plans to provide for: (1) State use of allotments for the appropriate additional activities; (2) market rate payments for child care services, with exceptions for certain kinds of care; (3) use of the Federal share (80 percent) for the appropriate additional activities; and (4) a report, plan, and proposal for a child care capital financing program. (Sec. 105) Sets forth requirements for State use of specified additional activity allotments for: (1) child care programs in general; and (2) local grants for out-of-school care programs for school-age children. (Sec. 106) Sets forth requirements for State use of specified additional activity allotments for the following child care quality improvement activities: (1) improved availability of quality child care services; (2) challenge grants to increase the availability and quality of child care; and (3) professional development activities and compensation. (Sec. 107) Sets forth requirements for State use of specified additional activity allotments for child care capital financing programs. Sets forth required uses of aid for child care capital projects. Authorizes the Secretary of Health and Human Services to establish a child care Federal guarantee program to guarantee notes and other obligations issued by States to assist certain entities in obtaining financing for such projects. (Sec. 110) Requires States that receive CCDBGA allotments to conduct periodic surveys to collect certain wage and rate information relating to child care providers, and to report survey results to the Secretary. (Sec. 111) Revises requirements for payments for the benefit of Indian children. Sets forth the relationship between appropriated funds, certain reservations of funds for specified activities, and allotments under CCDBGA. Title II: Supporting Family Choices in Child Care - Amends the Internal Revenue Code to: (1) revise the formula to increase the dependent care income tax credit for certain taxpayers, indexed for inflation, with an even greater credit for employment-related dependent care expenses; (2) allow a minimum dependent care income tax credit for stay-at-home parents; and (3) provide for advance payment by the employer of an employee's dependent care income tax credit. Title III: Quality Child Care Loan Forgiveness - Quality Child Care Loan Forgiveness Act - Amends the Higher Education Act of 1965 (HEA) to authorize the Secretary of Education to carry out a five-year demonstration program of student loan forgiveness for individuals who earn a degree in early childhood education and obtain full-time employment in the early child care profession. (Sec. 304) Requires cancellation of 15 percent of a student loan for each complete year of full-time employment in a child care facility by such a child care provider or educator. Directs the Secretary to submit interim and final reports on such program to the President and the Congress. Authorizes appropriations for FY 1999 through 2003 for such program. (Sec. 305) Requires cancellation of certain percentages of their student loans for full-time child care providers or educators who work in qualified child care facilities and who have degrees in early childhood education. Title IV: Offsets - Amends the Internal Revenue Code to repeal: (1) the oil and gas percentage depletion allowance; (2) the enhanced oil recovery credit; (3) the exemption from alternative minimum tax for small corporations; and (4) the exclusion from gross income of an individual's foreign earned income. (Sec. 402) Directs the Secretary of Defense to terminate the F-22 aircraft program. Directs the President to reduce the U.S. inventory of strategic nuclear delivery systems to the levels applicable to the United States, within the time provided, in the START II Treaty. (Sec. 403) Reduces by five percent the amount available for U.S. intelligence and intelligence-related activities for FY 1999 through 2003. (Sec. 404) Amends the Arms Export Control Act to provide for recoupment of certain foreign military sales costs and expenses. (Sec. 405) Directs the Administrator of the National Aeronautics and Space Administration to terminate U.S. participation in the International Space Station program.