H.R. 4885 · 113th Congress
Social Impact Bond Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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YoungSponsor28 cosponsors · 14 D, 14 R
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Delaney
TG
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Griffin
JK
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Kennedy
JL
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Larson
JP
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Polis
TR
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Reed
DR
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Ross
AS
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Schock
JM
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McGovern
PT
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Tiberi
AB
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Bera
DC
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Cicilline
DR
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Reichert
MK
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Kelly
JM
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Matheson
TP
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Petri
DN
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Nunes
RR
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Ribble
DT
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Titus
DK
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Kilmer
JC
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Carney
MF
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Fitzpatrick
GM
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Meeks
JR
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Renacci
AK
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Kuster
DB
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Black
KM
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Marchant
EB
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Blumenauer8 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Social Impact Bond Act - Amends title XX (Block Grants to States for Social Services and Elder Justice) of the Social Security Act to add a new part C (Social Impact Bonds).
What it does: CRS summary · Introduced in House · Jun 18, 2014
Social Impact Bond Act - Amends title XX (Block Grants to States for Social Services and Elder Justice) of the Social Security Act to add a new part C (Social Impact Bonds).
Requires the Secretary of the Treasury to seek proposals from states or local governments for social impact bond projects which produce measurable, clearly defined outcomes that result in social benefit, such as employment for the unemployed, high school graduation, and reduction of teen and unplanned pregnancies as well as incidences of child abuse and neglect. Requires applications to include a feasibility study, funded under this Act, which contains specified information.
Requires the Secretary to decide whether to enter into such a contract within six months after receiving an application.
Makes appropriations for 10 years to carry out this Act.
Requires independent evaluation of a state or local government social impact bond project.
Establishes the Federal Interagency Council on Social Impact Bonds.
Amends the Community Reinvestment Act of 1977 to require the appropriate federal financial supervisory agency to consider, in assessing and taking into account the record of a financial institution in meeting the credit needs of its entire community, its investments in social impact bond projects.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Social Impact Bond Act
Latest action (Jun 18, 2014): Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Social Welfare · Origin: House · Introduced: Jun 18, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.