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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.
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