3.0.0 2691 2023-01-11T13:25:45Z 2023-01-11T13:25:45Z Senate S S 2014-07-30 113 ssfi00 Finance Committee Senate Standing Referred to 2014-07-30T17:53:14Z Social Impact Bond Act 113 4885 HR 2014-06-18 Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS 2014-07-30 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2014-07-30 Introduced in Senate IntroReferral 10000 9 Library of Congress B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO N H000338 Sen. Hatch, Orrin G. [R-UT] ORRIN HATCH R UT GRANT 2014-07-30 True Social Welfare Academic performance and assessments Adoption and foster care Advisory bodies Banking and financial institutions regulation Cardiovascular and respiratory health Child care and development Crime prevention Digestive and metabolic diseases Disability and paralysis Domestic violence and child abuse Elementary and secondary education Employment and training programs Executive agency funding and structure Government information and archives Government studies and investigations Health promotion and preventive care Intergovernmental relations Performance measurement Poverty and welfare assistance Public contracts and procurement Public-private cooperation Sex and reproductive health State and local government operations Teenage pregnancy Unemployment Wages and earnings Youth employment and child labor Social Welfare 00 2014-07-30 Introduced in Senate 2014-09-17T19:34:28Z Pay for Performance Act - Amends title XX (Block Grants to States for Social Services and Elder Justice) of the Social Security Act to add a new part C (Social Impact Pay for Performance Contracts).

Requires the Secretary of the Treasury to publish in the Federal Register a request for proposals from states or local governments for social impact pay for performance contract projects which produce measurable, clearly defined outcomes that result in social benefit, such as employment for the unemployed, high school graduation, and reduction of teen and unplanned pregnancies as well as incidences of child abuse and neglect. Requires applications to include a feasibility study, funded under this Act, which contains specified information.

Requires the Secretary to decide whether to enter into such a contract within six months after receiving an application.

Requires independent evaluation of a state or local government social impact pay for performance contract project.

Makes appropriations for 10 years to carry out this Act.

Establishes the Federal Interagency Council on Social Impact Pay for Performance Contracts.

Authorizes the Comptroller General (GAO) to audit the activities of any state, local government, or nongovernment that receives funds under this Act.

Amends the Community Reinvestment Act of 1977 to require the appropriate federal financial supervisory agency to consider, in assessing and taking into account the record of a financial institution in meeting the credit needs of its entire community, its investments in social impact pay for performance contract projects.

]]> Pay for Performance Act Display Title Pay for Performance Act Official Title as Introduced A bill to encourage and support partnerships between the public and private sectors to improve our nation's social programs, and for other purposes. Introduced in Senate IS Short Titles as Introduced Pay for Performance Act Introduced in Senate 2014-07-30T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113s2691is/xml/BILLS-113s2691is.xml 2014-07-30 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.