South Carolina § 11-60-40 Requirements for pay-for-success contracts.

South Carolina Statutes

§ 11-60-40 — Requirements for pay-for-success contracts.

South Carolina § 11-60-40

Title 11PUBLIC FINANCE

Ch. 60PAY-FOR-SUCCESS PERFORMANCE ACCOUNTABILITY

This text of South Carolina § 11-60-40 (Requirements for pay-for-success contracts.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 11-60-40 (2026).

Text

Each pay-for-success contract must include the following:

(1)a full and thorough description of the objectives of the pay-for-success contract; a clear description of the program, service, or project management services to be performed by the private-sector organization; a clear statement of the outcomes sought to be achieved for a certain population; the time period under which the outcomes must be achieved; a clear statement of the performance measures used to measure the outcomes; an analysis of how the defined performance measures will demonstrate progress in addressing the objectives; and how achieving the objectives should provide a significant public benefit;

(2)a requirement that the state agency will transfer funds to fully cover the success payment under the pay-for-success con

Free access — add to your briefcase to read the full text and ask questions with AI

Each pay-for-success contract must include the following: (1) a full and thorough description of the objectives of the pay-for-success contract; a clear description of the program, service, or project management services to be performed by the private-sector organization; a clear statement of the outcomes sought to be achieved for a certain population; the time period under which the outcomes must be achieved; a clear statement of the performance measures used to measure the outcomes; an analysis of how the defined performance measures will demonstrate progress in addressing the objectives; and how achieving the objectives should provide a significant public benefit; (2) a requirement that the state agency will transfer funds to fully cover the success payment under the pay-for-success contract to the trust account that is specifically established for pay-for-success contracts provided in Section 11-60-50; (3) a requirement that any success payment is conditioned on achieving specific outcomes based on the defined performance measures, as evaluated by an independent evaluator; (4) a requirement that the private-sector organization provide evidence that the private-sector organization has secured all of the necessary financing before service delivery begins; (5) a description of the data each state agency involved in developing the pay-for-success contract will provide to the private-sector organization. Data will be provided by the state agency only to the extent permissible by law; (6) the objective process that an independent evaluator, procured by the state agency, will use to monitor program progress and determine if a performance measure is achieved; (7) the reporting requirements the private-sector organization must provide to the state agency regarding the private-sector organization's progress in meeting the performance measures; (8) the method that will be used to calculate the amount and timing of success payments to the private-sector organization during the pay-for-success contract if the independent evaluator determines that the private-sector organization achieves a performance measure; (9) the terms under which a pay-for-success contract may be terminated.

Legislative History

HISTORY: 2021 Act No. 52 (S.461), SECTION 2, eff May 17, 2021. Editor's Note 2021 Act No. 52, SECTION 1, provides as follows: "SECTION 1. This act must be known and may be cited as the 'South Carolina Pay-for-Success Performance Accountability Act'."