Bill to Promote Social-Impact Bonds Has Support in High Places

Source: Nicole Wallace, Chronicle of Philanthropy, April 28, 2015

Republican Sen. Orrin Hatch of Utah and Democratic Sen. Michael Bennet of Colorado are trying again to advance legislation that would appropriate $300 million for state and local social-impact bonds over 10 years. Although similar legislation stalled in the previous session of Congress, Mr. Hatch now has more clout to push the bill; he became chairman of the Finance Committee when the Republicans took control of the Senate earlier this year. …..The new form of financing allows private investors to pay for a social program that has performance goals, such as reducing the number of teenage pregnancies.