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Pennsylvania State Senate
04/19/2024 05:17 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20150&cosponId=18273
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Senate Co-Sponsorship Memoranda

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Senate of Pennsylvania
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: May 6, 2015 11:18 AM
From: Senator Sean Wiley
To: All Senate members
Subject: Governor's Budget Package Legislation Regarding the Pay for Success Program
 
In the near future I will be introducing legislation on behalf of the Governor that is included in the 2015-16 fiscal year budget establishing the Pay for Success Program.

Decades of research have demonstrated that public investment can improve the lives of Pennsylvanians while simultaneously strengthening the state’s bottom line. Pay for Success performance contracts - also known as “Social Impact Bonds” - provide an innovative strategy to finance these proven programs. Pay for Success contracts are rigorous, binding agreements based on a straightforward proposition: taxpayers will only pay for services that actually get results and save money in the long run. The strategy enables the Commonwealth to fund programs and services that improve economic opportunity, health, and safety that it otherwise might not be able to afford in the short term, and it requires strict limitations based on which programs have a strong evidence base and record of effectiveness.

Pay for Success projects on homelessness, early childhood education, and recidivism are currently underway in six states, counties, and cities across the country, and many more are in development.

This legislation enables Pennsylvania to enter into Pay for Success contracts in five high-priority areas:
  • Early childhood care and education, including pre-kindergarten education and services that address maternal and child outcomes from pregnancy through age 2;
  • Education, workforce preparedness, and employment, including school-to-work programs and alternative education services;
  • Public safety, including programs that reduce recidivism;
  • Health and human services, including addiction treatment, chronic homelessness, supportive housing, and child welfare; and
  • Long-term living and home- and community-based services.
These public-private partnerships will be selected on a competitive basis, and payment will only occur after validation by an independent third-party evaluator.

I hope that you will join me by co-sponsoring this legislation.


Introduced as SB115