Social Impact Investing Bill in CT Dies

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The heralded Connecticut legislation that would have created a “pay for performance” regime for social innovation investment and funding preventive social programs with money invested by private investors has died.  It never reached the floor of either chamber of the Connecticut legislature during the term ended June 5, 2013.

The proposed law, Senate Bill 854, would have vaulted Connecticut into a handful of States which authorize the delivery of preventive social programs by nonprofit service providers using funds invested by private investors.  Returns on investment would have been conditioned on the achievement of specific, quantifiable outcomes based on defined benchmarks.    The proposed law, which was voted out of both the Human Services and Appropriations Committees,  was never voted upon by the Senate, and therefore did not come up for vote in the House.

 

 

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