An Act To Amend Title 29 Of The Delaware Code Relating To Pay For Success Contracts

062818payforsuccessact

The legislation was signed on August 8, 2018. It allows Delaware state agencies to participate in Pay for Success contracts. A Pay for Success contract is an agreement between a state agency and either a program intermediary or an investor under which an investor will provide upfront capital to fund a service, program, or economic development initiative. The state agency agrees to repay the program intermediary or investor if the service, program, or economic development initiative meets the performance measures and outcomes agreed to in the contract. An independent evaluator will determine if the performance measures and outcomes are . . .