Assembly Actions -
Senate Actions - UPPERCASE
|Jan 05, 2022
referred to finance
|Feb 22, 2021
referred to finance
Senate Bill S5001
2021-2022 Legislative Session
Archive: Last Bill Status - In Senate Committee Finance Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2021-S5001 (ACTIVE) - Details
2021-S5001 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5001 SPONSOR: PARKER TITLE OF BILL: An act to amend the state finance law, in relation to creating the "New York state social impact bond initiative" PURPOSE OR GENERAL IDEA OF BILL: To establish a statewide pilot program modeled after the NYC social impact bond project to lower recidivism and improve the lives of 16-18 year olds in New York's correctional facilities. SUMMARY OF SPECIFIC PROVISIONS: Section 1: Title Section 2: Legislative intent; Definitions; The New York state social impact bond Task Force; Duties and responsibilities of the Task Force; Social Impact bond issuance Section 3: This act shall take effect one year after it shall have
2021-S5001 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5001 2021-2022 Regular Sessions I N S E N A T E February 22, 2021 ___________ Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the state finance law, in relation to creating the "New York state social impact bond initiative" THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "New York state social impact bond initiative". § 2. The state finance law is amended by adding a new article 5-G to read as follows: ARTICLE 5-G NEW YORK STATE SOCIAL IMPACT BOND INITIATIVE SECTION 69-P. LEGISLATIVE INTENT. 69-Q. DEFINITIONS. 69-R. THE NEW YORK STATE SOCIAL IMPACT BOND TASK FORCE. 69-S. THE DUTIES AND RESPONSIBILITIES OF THE TASK FORCE. 69-T. SOCIAL IMPACT BOND ISSUANCE. § 69-P. LEGISLATIVE INTENT. IT IS THE INTENT OF THE LEGISLATURE TO ESTABLISH A STATEWIDE PILOT PROGRAM MODELED AFTER THE NEW YORK CITY SOCIAL IMPACT BOND PROJECT TO LOWER RECIDIVISM AND IMPROVE THE LIVES OF SIXTEEN TO EIGHTEEN YEAR OLDS IN NEW YORK'S CORRECTIONAL FACILITIES. THE FIRST STATEWIDE PROGRAM OF ITS KIND IN THE UNITED STATES, THIS PROGRAM WILL CREATE FINANCING ARRANGEMENTS THAT AIM TO INCREASE FUNDING AVAIL- ABLE FOR PREVENTATIVE SERVICES THROUGH PUBLIC-PRIVATE PARTNERSHIPS. § 69-Q. DEFINITIONS. "SOCIAL IMPACT BOND" SHALL MEAN A FINANCIAL ARRANGEMENT BETWEEN ONE OR MORE GOVERNMENT AGENCIES AND AN EXTERNAL ORGANIZATION THAT CAN BE EITHER A NONPROFIT OR A FOR-PROFIT ENTITY. § 69-R. THE NEW YORK STATE SOCIAL IMPACT BOND TASK FORCE. 1. THERE SHALL BE HEREBY ESTABLISHED A PERMANENT TASK FORCE ON THE NEW YORK STATE SOCIAL IMPACT TASK FORCE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09255-01-1
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