Jack Walsh
- Democratic
- Senator
- District 9
Primary
This Act creates Pay for Success contracts. A Pay for Success contract is an agreement between a State agency and either a program intermediary or an investor under which an investor will provide upfront capital to fund a service, program, or economic development initiative. The State agency agrees to repay the program intermediary or investor if the service, program, or economic development initiative meets the performance measures and outcomes agreed to in the contract. An independent evaluator will determine if the performance measures and outcomes are met. If the State agency contracts with a program intermediary, the program intermediary will manage all aspects of the project, including identifying the investor and the entity or entities that will provide the service, program, or economic development initiative. In other situations, a State agency will contract directly with the investor, who will contract directly with the entity or entities that will provide the service, program, or economic development initiative.
Signed by Governor
Passed By House. Votes: 39 YES 1 NO 1 ABSENT
Reported Out of Committee (Administration) in House with 5 On Its Merits
Passed By Senate. Votes: 18 YES 3 ABSENT
Amendment SA 1 to SB 242 - Passed By Senate. Votes: 17 YES 4 ABSENT
Reported Out of Committee (Elections & Government Affairs) in Senate with 3 On Its Merits
Introduced and Assigned to Elections & Government Affairs Committee in Senate
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