when rigorous, independent data and reliable, evi-
dence-based research methodologies support the con-
clusion that a contract will yield savings to the Fed-
eral Government if the project outcomes are 
achieved before such applications are approved by 
the Director; 
‘‘(9) certify, in the case of each approved social 
impact partnership, that the project will yield a pro-
jected savings to the Federal Government if the 
project outcomes are achieved, and coordinate with 
the relevant Federal agency to produce an after-ac-
tion accounting once the project is complete to de-
termine the actual Federal savings realized, and the 
extent to which actual savings aligned with projected 
savings; and 
‘‘(10) provide oversight of the actions of the Di-
rector and other Federal officials under this subtitle 
and report periodically to Congress and the public 
on the implementation of this subtitle. 
‘‘(b) COMPOSITION OF COUNCIL.—The Chair of the 
council shall be the Director of the Office of Management 
and Budget. The Council shall be composed of one des-
ignee, designated by the head of the relevant agency, from 
each of the following: 
‘‘(1) Department of Labor. 
VerDate Sep 11 2014 
22:27 Mar 13, 2015
Jkt 049200
PO 00000
Frm 00024
Fmt 6652
Sfmt 6201
E:\BILLS\H1336.IH
H1336
mstockstill on DSK4VPTVN1PROD with BILLS
‘‘(2) Department of Health and Human Serv-
ices. 
‘‘(3) Social Security Administration. 
‘‘(4) Department of Agriculture. 
‘‘(5) Department of Justice. 
‘‘(6) Department of Housing and Urban Devel-
opment. 
‘‘(7) Department of Education. 
‘‘(8) Department of Veterans Affairs. 
‘‘(9) Department of the Treasury. 
‘‘(10) Corporation for National and Community 
Service. 
‘‘SEC. 2057. FUNDING. 
‘‘(a) IN GENERAL.—Out of any money in the Treas-
ury not otherwise appropriated, there is hereby appro-
priated $300,000,000, to remain available until 10 years 
after the date specified in section 2053(c)(3), to carry out 
the activities authorized under this subtitle. 
‘‘(b) LIMITATION.—Of the amounts made available 
under subsection (a), the Director may not use more than 
$2,000,000 in any fiscal year to support the review, ap-
proval, and oversight of social impact partnership projects, 
including activities conducted by— 
‘‘(1) the Federal Interagency Council on Social 
Impact Partnerships; and 
VerDate Sep 11 2014 
22:27 Mar 13, 2015
Jkt 049200
PO 00000
Frm 00025
Fmt 6652
Sfmt 6201
E:\BILLS\H1336.IH
H1336
mstockstill on DSK4VPTVN1PROD with BILLS
‘‘(2) any other agency consulted by the Director 
before approving a social impact partnership project 
or a feasibility study under section 2054. 
‘‘(c) NO FEDERAL FUNDING FOR CREDIT ENHANCE-
MENTS.—No funding provided under this section shall be 
used to provide any insurance, guarantee, or other credit 
enhancement to a State or local government under which 
a Federal payment would be made to a State or local gov-
ernment as the result of a State or local government fail-
ing to achieve an outcome specified in a contract. 
‘‘SEC. 2058. WEBSITE. 
‘‘The Federal Interagency Council on Social Impact 
Partnerships shall establish and maintain a public website 
that shall display the following: 
‘‘(1) A copy of, or method of accessing, each 
notice published regarding a social impact partner-
ship project pursuant to this subtitle. 
‘‘(2) For each State or local government that 
has entered into a contract with the Director for a 
social impact partnership project, the website shall 
contain the following information: 
‘‘(A) The outcome goals of the project. 
‘‘(B) A description of each intervention in 
the project. 
VerDate Sep 11 2014 
22:27 Mar 13, 2015
Jkt 049200
PO 00000
Frm 00026
Fmt 6652
Sfmt 6201
E:\BILLS\H1336.IH
H1336
mstockstill on DSK4VPTVN1PROD with BILLS
‘‘(C) The target population that will be 
served by the project. 
‘‘(D) The expected social benefits to par-
ticipants who receive the intervention and oth-
ers who may be impacted. 
‘‘(E) The detailed roles, responsibilities, 
and purposes of each Federal, State, or local 
government entity, intermediary, service pro-
vider, independent evaluator, investor, or other 
stakeholder. 
‘‘(F) The payment terms, methodology 
used to calculate outcome payments, the pay-
ment schedule, and performance thresholds. 
‘‘(G) The project budget. 
‘‘(H) The project timeline. 
‘‘(I) The project eligibility criteria. 
‘‘(J) The evaluation design. 
‘‘(K) The metrics used to determine wheth-
er the proposed outcomes have been achieved 
and how these metrics are measured. 
‘‘(3) A copy of the progress reports and the 
final reports relating to each social impact partner-
ship project. 
‘‘(4) An estimate of the savings to the Federal, 
State, and local government, on a program-by-pro-
VerDate Sep 11 2014 
22:27 Mar 13, 2015
Jkt 049200
PO 00000
Frm 00027
Fmt 6652
Sfmt 6201
E:\BILLS\H1336.IH
H1336
mstockstill on DSK4VPTVN1PROD with BILLS
gram basis and in the aggregate, resulting from the 
successful completion of the social impact partner-
ship project. 
‘‘SEC. 2059. COMMUNITY REINVESTMENT ACT. 
‘‘Section 804 of the Community Reinvestment Act of 
1977 (12 U.S.C. 2903) is amended by adding at the end 
the following: 
‘‘ ‘(e) SOCIAL IMPACT PARTNERSHIP PROJECTS.—In 
assessing and taking into account, under subsection (a), 
the record of a financial institution, the appropriate Fed-
eral financial supervisory agency shall consider, as a fac-
tor, investments made by the financial institution in social 
impact partnership projects under subtitle C of title XX 
of the Social Security Act.’. 
‘‘SEC. 2060. REGULATIONS. 
‘‘The Director, in consultation with the Federal 
Interagency Council on Social Impact Partnerships, may 
issue regulations as necessary to carry out this subtitle. 
‘‘SEC. 2061. DEFINITIONS. 
‘‘In this subtitle: 
‘‘(1) AGENCY.—The term ‘agency’ has the 
meaning given that term in section 551 of title 5, 
United States Code. 
VerDate Sep 11 2014 
22:27 Mar 13, 2015
Jkt 049200
PO 00000
Frm 00028
Fmt 6652
Sfmt 6201
E:\BILLS\H1336.IH
H1336
mstockstill on DSK4VPTVN1PROD with BILLS
‘‘(2) INTERVENTION.—The term ‘intervention’ 
means a specific service delivered to achieve an im-
pact through a social impact partnership project. 
‘‘(3) DIRECTOR.—The term ‘Director’ means 
the Director of the Office of Management and Budg-
et. 
‘‘(4) SOCIAL IMPACT PARTNERSHIP PROJECT.— 
The term ‘social impact partnership project’ means 
a project that finances social services using a social 
impact partnership model. 
‘‘(5) SOCIAL IMPACT PARTNERSHIP MODEL.— 
The term ‘social impact partnership model’ means a 
method of financing social services in which— 
‘‘(A) Federal funds are awarded to a State 
or local government only if a State or local gov-
ernment achieves certain outcomes agreed upon 
by the State or local government and the Direc-
tor; and 
‘‘(B) the State or local government coordi-
nates with service providers, investors (if appli-
cable to the project), and (if necessary) an 
intermediary to identify— 
‘‘(i) 
an 
intervention 
expected 
to 
produce the outcome; 
VerDate Sep 11 2014 
22:27 Mar 13, 2015
Jkt 049200
PO 00000
Frm 00029
Fmt 6652
Sfmt 6201
E:\BILLS\H1336.IH
H1336
mstockstill on DSK4VPTVN1PROD with BILLS
‘‘(ii) a service provider to deliver the 
intervention to the target population; and 
‘‘(iii) investors to fund the delivery of 
the intervention. 
‘‘(6) STATE.—The term ‘State’ means each 
State of the United States, the District of Columbia, 
each commonwealth, territory or possession of the 
United States, and each federally recognized Indian 
tribe.’’. 
Æ 
VerDate Sep 11 2014 
22:27 Mar 13, 2015
Jkt 049200
PO 00000
Frm 00030
Fmt 6652
Sfmt 6301
E:\BILLS\H1336.IH
H1336
mstockstill on DSK4VPTVN1PROD with BILLS