Pay for Success Program Repeal

      Joint Budget Committee. Currently, the office of economic development (office) administers a pay for success contracts program (program) by entering into agreements with lead contractors for the provision of program-eligible interventions.

     Currently, the office uses money in the pay for success contracts fund (fund) and the office of state planning and budgeting youth pay for success initiatives account within the fund (account) to make payments to a lead contractor for managing the program and for any administrative expenses incurred with respect to an agreement related to the program. The office also uses money in the account for specified projects. The bill requires the state treasurer to transfer all of the money in the fund and the account to the general fund on June 30, 2026, and repeals the program, the fund, and the account on July 1, 2026.

(Note: This summary applies to this bill as introduced.)