June 4, 2014, Introduced by Rep. Olumba and referred to the Committee on Education.
A bill to create a social impact bond pilot program and study
commission; to promote senior citizen support services; to increase
at-risk youth education and job training programs; to reduce
juvenile recidivism; and to prescribe the duties and
responsibilities of certain state departments and agencies.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 1. This act shall be known and may be cited as the
"Michigan social innovation act".
Sec. 2. As used in this act:
(a) "Department" means the department of human services.
(b) "Medicare" means benefits under title XVIII of the social
security act, 42 USC 1395 to 1395kkk-1.
Sec. 3. The department, in conjunction with the department of
technology, management, and budget and the state treasurer, shall
use existing bond authority to create and administer a 4-year
social impact bond pilot program and study commission. The program
shall target areas that include the following:
(a) Senior support services to reduce state medicare spending.
(b) At-risk youth education and job training programs to
reduce juvenile recidivism.