Definitions

Source Credit

In this division:
(1) Agency
The term "agency" has the meaning given that term in section 551 of title 5.
(2) Intervention
The term "intervention" means a specific service delivered to achieve an impact through a social impact partnership project.
(3) Secretary
The term "Secretary" means the Secretary of the Treasury.
(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 government achieves certain outcomes agreed on by the State or local government and the Secretary; and
(B) the State or local government coordinates with service providers, investors (if applicable to the project), and (if necessary) an intermediary to identify—
(i) an intervention expected to produce the outcome;
(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.

History

(Aug. 14, 1935, ch. 531, title XX, §2063, as added Pub. L. 115–123, div. E, title VIII, §50802(2), Feb. 9, 2018, 132 Stat. 282.)