A broad coalition of 35 nonprofit organizations, including Enterprise and the Accelerating Impact Investing Initiative (AI3), sent a letter to Senate leadership urging passage of the Social Impact Partnership Act (S.1089) during the lame duck session. The bipartisan bill, which was introduced by Senators Orrin Hatch (R-Utah) and Michael Bennet (D-Colo.) in April 2015, would establish a new interagency council to identify eligible state and local Social Impact Bonds (SIBs) that could save federal dollars. It would also create a new fund to support SIB initiatives through success payments, feasibility studies and independent evaluations. Similar legislation unanimously passed the House in June. For more background on SIBs, see our recent issue brief.
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