Budget Amendment ID: FY2014-S3-133

GOV 133

Social Innovation Financing Trust Fund

Mr. Brownsberger moved that the proposed new text be amended in section 2, by inserting the following item:-

“1599-3557  For initial funding for the Social Innovation Financing Trust Fund established under section 35VV of chapter 10 of the General Laws to hold funds in support of pay for success contracts; provided, that per the legislation, these funds are based on expected future payments that will only be distributed upon achieving performance goals under the pay for success contract; and provided further, that the amount represents initial funding for the efforts underway to enter into pay for success contracts associated with juvenile justice and chronic homelessness ……………………………………..……………………$7,500,000”