Pay-for-Success Act

This act authorizes a government to test pay-for-success contracting, an arrangement in which private or philanthropic funders finance social services up front and the government repays them only if agreed-upon outcomes are achieved. It sets up a pilot program to carry out such arrangements, along with a dedicated restricted receipt account to hold and disburse the funds involved, and defines the terms governing how the program operates. Ongoing reporting requirements track the pilot's progress and results.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.