Bill
Bill > SB769
summary
Introduced
02/04/2019
02/04/2019
In Committee
02/05/2019
02/05/2019
Crossed Over
Passed
Dead
05/23/2019
05/23/2019
Introduced Session
2019 Regular Session
Bill Summary
Public finance; creating the Pay for Success Act. Effective date.
AI Summary
This bill creates the "Pay for Success Act" in Oklahoma, which aims to authorize innovation opportunities through pay-for-success contracts. These contracts allow state agencies to partner with private entities, who provide upfront capital to fund services or programs. The agencies then make success payments to the private entities if the services or programs meet specified performance targets and outcome measures, as evaluated by an independent third-party. The bill also establishes the "Pay-for-Success Innovation Fund" to provide a source of funding for these success payments.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Coauthored by Senator Montgomery (on 02/05/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb769&Session=1900 |
| BillText | http://webserver1.lsb.state.ok.us/cf_pdf/2019-20%20INT/SB/SB769%20INT.PDF |
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