CO SB185

Establishes a state pay-for-success contracts program authorizing the Office of State Planning and Budgeting to enter into contracts with lead contractors to provide early childhood education services for children under five years old who are at risk.

Requires state contracts to define service scope, performance targets, evaluation processes, and payment procedures, with payments contingent on defined performance targets being met and subject to annual appropriation unless costs savings are preauthorized and funds set aside.

Creates a $25 million pay for success contracts fund in the state treasury consisting of moneys appropriated by the general assembly, direct or indirect state spending reductions from early childhood education programs, and school district contributions.

Allows school districts individually or in groups to create their own district pay-for-success contracts for early childhood education services, subject to approval by each district's chief financial officer and board of education.

Permits school districts to join state contracts as additional parties with approval from the state and lead contractor, with contracts specifying how payment responsibilities are allocated between state and districts.