Social Impact Bonds—$100 Million More Available

One of the little-noticed provisions of the budget bill that was passed earlier was the inclusion of legislation related to federal funding for social impact bonds (also known as pay-for-success contracts). The legislation allows the Secretary of the Treasury to use $100 million to enter into social impact bonds with states and local governments. Additionally, the law establishes Federal Interagency Council on Social Impact Partnerships and the Commission on Social Impact Partnerships (see US states and cities to compete for $100 million in new funding to 'Pay for Success' and Issuing Bonds to Invest in People).

This . . .