Requesting the establishment of a pay for success bond interim study committee

Official bill page Lobbyist declarations One-pager to print

Where it is now

Done: IntroducedJanuary 24, 2019
Done: SubcommitteeJanuary 29, 2019
Stopped: Senate committeeDied when the General Assembly ended
Next: Passes the Senate
Next: House committee
Next: Passes the House
Next: To the Governor
Next: Signed into law

Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?

What’s in it

This bill requests the legislative council to establish an interim study committee to determine whether opportunities exist for the use of pay for success bonds in Iowa. The bill defines “pay for success bond” to mean a financial instrument in which private investors provide working capital to nonprofit organizations to implement preventive programs aimed at achieving predefined social outcomes. If an independent evaluator determines that the predefined outcomes have been achieved, the government repays the investors their principal and a rate of return; otherwise, the investors lose their capital.

Read the full explanation

The legislative interim committee is to be comprised of legislative members who shall be voting members of the committee, and representatives from the department of human services, the Iowa finance authority, and the state treasurer’s office, and nongovernmental social service or community organizations who shall be nonvoting members of the committee. The committee is directed to study the advisability and feasibility of using pay for success bonds in Iowa which shall include but not be limited to reviewing existing social innovation programs in this state and in states with pay for success bond programs; identifying opportunities for the use of pay for success bonds in this state; identifying potential challenges and risks of a pay for success bond program; identifying necessary statutory changes; and developing legislation. The committee is required to present a summary of its review and recommendations in a report to the 2020 session of the general assembly no later than December 15, 2019.

Full bill text¹

Senate subcommittee

Named January 29, 2019. It hasn’t reported yet.

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

Lobbying

1 for · 0 against · 2 undecided · Who →