Maine LD 418: Resolve, To Study the Use of Social Impact Bonds as a Funding Mechanism for Public Education Programs in Maine

LD 418 (subjects: EDUCATION DEPT , POWERS )

Official bill page at mainelegislature.org: http://www.mainelegislature.org/legis/bills/display_ps.asp?ld=418&PID=1456&snum=127


Sponsors | Actions | Bill Text & Amendments | Patterns of Support


Sponsors

Principal Sponsor: Rep. Matthew Pouliot of Augusta: (R – District 86) — e-mail | Twitter | Facebook

6 Cosponsors:

Actions

Chamber

Action
2/12/2015 House Committee on Education and Cultural Affairs suggested and ordered printed.
The Resolve was REFERRED to the Committee on EDUCATION AND CULTURAL AFFAIRS.
Sent for concurrence. ORDERED SENT FORTHWITH.
2/12/2015 Senate On motion by Senator Langley of Hancock, REFERRED to the Committee on Education and Cultural Affairs, in concurrence.
3/17/2015 House Reports READ.
On motion of Representative KORNFIELD of Bangor, the Majority Ought to Pass as Amended Report was ACCEPTED.
The Resolve was READ ONCE.
Committee Amendment “A” (H-10) was READ and ADOPTED.
TOMORROW ASSIGNED FOR SECOND READING.
3/18/2015 House Committee on Bills in the Second Reading Reports no further verbal amendments necessary Representative McLEAN of Gorham, Chair, House of Representatives Report Accepted.

READ the Second Time.
The Resolve was PASSED TO BE ENGROSSED as Amended by Committee Amendment “A” (H-10).
Sent for concurrence. ORDERED SENT FORTHWITH.
3/19/2015 Senate Reports READ.
On motion by Senator LANGLEY of Hancock the Majority Ought to Pass as Amended Report ACCEPTED, in concurrence.
READ ONCE.
Committee Amendment “A” (H-10) READ and ADOPTED, in concurrence.
ASSIGNED FOR SECOND READING NEXT LEGISLATIVE DAY.
3/24/2015 Senate COMMITTEE ON BILLS IN THE SECOND READING REPORTS NO FURTHER VERBAL AMENDMENTS NECESSARY, Senator Saviello, Senate Chair. REPORT ACCEPTED.
READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment “A” (H-10), in concurrence.
Ordered sent down forthwith.
3/25/2015 House FINALLY PASSED.
Sent for concurrence. ORDERED SENT FORTHWITH.
3/26/2015 Senate On motion by Senator HAMPER of Oxford PLACED ON THE SPECIAL APPROPRIATIONS TABLE pending FINAL PASSAGE
6/30/2015 Senate On Motion by Senator HAMPER of Oxford taken from the SPECIAL APPROPRIATIONS TABLE. FINALLY PASSED , in concurrence.

Bill Text & Amendments

Important Note: The bill text below presents L.D. 418 as originally introduced. L.D. 418 was changed by the legislature through amendment. To understand the impact of this legislation in proper context, be sure to read adopted amendment text, available here: C-A (H-10) .

Resolve, To Study the Use of Social Impact Bonds as a Funding Mechanism for Public Education Programs in Maine

Sec.
1.
Education Research Institute to study use of social impact bonds to fund extended learning programs and prekindergarten programs. Resolved: That the Education Research Institute, as established in the Maine Revised Statutes, Title 20-A, section 10, shall study the use of social impact bonds to fund extended learning programs and prekindergarten programs. For purposes of this resolve, “social impact bond” means a performance-based bond that operates over a fixed period of time and for which repayment to an investor is contingent upon a specific social outcome being achieved and “extended learning program” means a program that creates educational opportunities for students whose educational needs and abilities exceed those addressed by the general curriculum. A social impact bond generally involves a government entity partnering with a service provider or outside investor that provides the financing for the project or service that is the object of the bond with the government entity not being required to pay back the bond unless success is demonstrated by a measurable outcome; and be it further

Sec.
2.
Report. Resolved: That the Education Research Institute shall submit a report with respect to the study under section 1 and any recommended legislation to the Joint Standing Committee on Education and Cultural Affairs by December 2, 2015. The Joint Standing Committee on Education and Cultural Affairs may report out a bill based upon the report to the Second Regular Session of the 127th Legislature.

SUMMARY

This resolve requires the University of Maine System’s Education Research Institute to study the use of social impact bonds to fund extended learning programs and prekindergarten programs. A social impact bond generally involves a government entity partnering with a service provider or outside investor that provides the financing for the project or service that is the object of the bond with the government entity not being required to pay back the bond unless success is demonstrated by a measurable outcome.

Patterns of Support

Pattern of Cosponsorship by Region:

Pattern of Cosponsorship by Gender:

Pattern of Cosponsorship by Party:

Pattern of Cosponsorship by Campaign Finance Classification:

Note: Maine Clean Elections Act (MCEA) Qualified candidates only accept a small dollar value of initial contributions early in their campaigns, pledge not to accept further campaign contributions from private sources, and receive public funding for their campaigns. MCEA Non-Qualified candidates choose not to obtain public funding and instead are free to accept campaign contributions from individuals, party committees, political action committees and business sources.


This information about LD 418 was last updated on 2016-05-12.
The Open Maine Politics website is in a beta release and results should not be taken as definitive. Please visit the official website of the Maine State Legislature for entirely verifiable information.

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