Download This Bill in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
S. 963
STATUS INFORMATION
General Bill
Sponsors: Senator Alexander
Document Path: l:\s-res\tca\031pay .kmm.tca.docx
Introduced in the Senate on February 6, 2018
Currently residing in the Senate Committee on Finance
Summary: Pay-for-success contracts
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
-------------------------------------------------------------------------------
2/6/2018 Senate Introduced and read first time (Senate Journal-page 5)
2/6/2018 Senate Referred to Committee on Finance (Senate Journal-page 5)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND TITLE 11 OF THE 1976 CODE, RELATING TO PUBLIC FINANCE, BY ADDING CHAPTER 60, TO ESTABLISH THE TRUST FUND FOR PERFORMANCE ACCOUNTABILITY TO FUND PAY-FOR-SUCCESS CONTRACTS, WHEREBY THE STATE CONTRACTS WITH A PRIVATE-SECTOR ORGANIZATION TO ACHIEVE SPECIFICALLY DEFINED MEASUREABLE OUTCOMES IN WHICH THE STATE PAYS ONLY TO THE EXTENT THAT THE DESIRED OUTCOMES ARE ACHIEVED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Title 11 of the 1976 Code is amended by adding:
Section 11-60-10. This chapter is known and may be cited as the 'South Carolina Pay for Success Performance Accountability Act.'
Section 11-60-20. For the purposes of this chapter, 'pay-for-success contract' means an agreement in which the State contracts with a private-sector organization to achieve specifically defined measureable outcomes for a given population over a certain period of time and in which the State pays only to the extent that the desired outcomes are achieved, as determined by an independent assessor.
Section 11-60-30. There is established in the State Treasury the trust fund for performance accountability for the purpose of funding pay-for-success contracts to improve outcomes and lower costs for government services. The State Treasurer is the trustee and administrator of the trust fund, which must be maintained separately from the general fund of the State and all other funds
Section 11-60-40. (A) A state department, board, commission, committee, agency, or authority may enter into a pay-for-success contract, provided that the procurement of the contract is compliant with the procurement code governing procurements made by the department, board, commission, committee, agency, or authority. The State Treasurer is authorized to receive funds from other governmental entities when those funds are subject to a valid pay-for-success contract.
(B) The Treasurer shall make payments from the trust fund in accordance with the terms and conditions of the pay-for-success contracts.
Section 11-60-50. (A) On or before February first of each year, the Treasurer shall provide a status report on all pay-for-success contracts to the Governor, the Chairman of the Senate Finance Committee, and the Chairman of the House Ways and Means Committee.
(B) The Board of Economic Advisors shall account for the trust fund revenue separately from general fund revenues in reports to the Governor and the General Assembly."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on
February 9, 2018 at 4:22 PM