June 30, 2014
via Forbesby Carrie Sheffield
In June 2014, the Social Impact Bond Act was introduced in Congress. The bipartisan bill would allow the Treasury to reimburse only those social betterment projects that achieve their targeted outcomes. Further, the bill would create a Federal Interagency Council on SIBs. Members would come from 10 government agencies and departments and would be chaired by a member of the Office of White House Policy.
From original article:
“SIBs are a better fit for human nature than guaranteed government appropriations since they tap into incentives. No results, no money. Should this federal endeavor–right now capped at $300 million–prove successful, it could be the tipping point for a wave of more SIBs..”