Connecticut Seal

General Assembly

 

Proposed Bill No. 188

 

January Session, 2017

 

LCO No. 1426

 

*01426*

Referred to Committee on FINANCE, REVENUE AND BONDING

 

Introduced by:

 

SEN. DUFF, 25th Dist.

 

AN ACT AUTHORIZING BONDS OF THE STATE FOR SOCIAL IMPACT BONDS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the State Bonding Commission be empowered to authorize the issuance of bonds of the state in accordance with section 3-20 of the general statutes, in principal amounts not exceeding in the aggregate ten million dollars, the proceeds of which shall be used by state agencies for the purpose of providing social impact bonds to fund social programs that lead to improved social results and are paid for by private entities that will be repaid when contractually agreed upon objectives are achieved.

Statement of Purpose:

To provide funding for social impact bonds.