The Senate Appropriations Committee on Wednesday approved a bill by Senators Roger Thompson and Wayne Shaw that would permit state agencies to enter into pay-for-success contracts with private entities if there is a public benefit to the state.
Senate Bill 210 sets out the conditions for pay-for-success funding models made between state agencies and private entities. Under the measure, pay-for-success contracts must identify performance targets and outcomes against which the program can be measured to determine quantifiable public benefits or monetary savings.
“Pay-for-success contracts offer an innovative way for state services to be delivered in a more efficient and effective manner while saving the state money. Pay-for-success programs have been particularly successful in the criminal justice reform arena, and there are many other areas of state government that could benefit from this innovative approach. I appreciate members of the Senate Appropriations Committee for advancing this important legislation,” said Thompson, R-Okemah and chair of the Senate Appropriations Committee.
“The Oklahoma Legislature has done much to address the state’s high incarceration rate and keep more families together. I’m hopeful that pay-for-success programs will continue to offer an innovative way for the state to advance criminal justice reform by allowing state agencies to partner with private programs that will help more Oklahomans overcome addiction issues and get back to being productive, taxpaying members of society,” said Shaw, R-Grove.