Protecting Childcare from Private Equity Act

In general— Not later than 1 year after the date of enactment of this Act, the Securities and Exchange Commission, in consultation with the Secretary of Health and Human Services, shall require each covered private fund to provide the Commission with information on the ownership, purchase, and sale by such fund of legal entities that provide childcare.

Report to Congress— Not later than 1 month after the end of each fiscal year, the Commission shall issue a report to Congress containing anonymized data collected under subsection (a) for the previous fiscal year.

In general— During the 4-year period beginning on the date that a covered private fund first controls a legal entity that provides childcare—

Study— The Comptroller General of the United States shall, in consultation with the Secretary of Health and Human Services and the Securities and Exchange Commission, carry out a study on the effect of private equity ownership of childcare providers in terms of quality of care, availability of spots, tuition, employee wages, and such other items as the Comptroller General determines appropriate.

Report— Not later than 2 years after the date of enactment of this Act, the Comptroller General shall issue a report to the Congress containing all findings and determinations made in carrying out the applicable study required under subsection (a).

Controls— With respect to a legal entity, a person “controls” the legal entity if the person owns, or otherwise has the power to vote, more than 50 percent of the equity voting securities of the legal entity.

Covered private fund— The term “covered private fund” means an issuer—