CT SB00105

Establishes a framework for outcome-based performance contracts between the state and social innovation investment enterprises that deliver preventive social programs through nonprofit service providers.

Defines key terms including "savings" (reduction in state expenditures), "social innovation investment enterprise," "social investment vehicle," and "outcome-based performance contract" that conditions investor returns on achievement of specific performance benchmarks.

Requires outcome-based performance contracts to include independent evaluation of performance benchmarks, quantifiable outcome metrics, and fiscal analysis of projected savings in specific governmental service areas.

Creates a non-lapsing "social innovation account" within the General Fund to provide payments to social innovation enterprises and investors in accordance with contract terms, with authority to accept grants and donations from public or private sources.

Mandates that the Secretary of the Office of Policy and Management report annually to joint standing committees on contract performance, including achievement of outcomes, investor returns, and fiscal analyses of savings achieved.