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By Tom Hester | December 6th, 2012 - 4:19pm
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Innovative Fuentes, Coutinho, Jimenez & Burzichelli Bill to Entice Private Entities to Fund Public Policy Initiatives Released by Assembly Panel

(TRENTON) – Legislation Assembly Democrats Angel Fuentes, Albert Coutinho, Angelia Jimenez and John Burzichelli sponsored to create a five-year pilot program that allows private entities to fund public policy needs through pay-for-success contracts was released Thursday by an Assembly panel.

The bill (A-3289) seeks to attract private funding for public programs aimed at reducing the cost of providing health care to low-income and uninsured residents. The Economic Development Authority (EDA) would administer the program and oversee a study commission established by the bill. If the cost-saving goals outlined by the study commission are met, backers will receive a return on their investment in what has been called Social Impact Bonds.

"Providing adequate healthcare to our neediest residents can be costly to service providers, governments and residents," said Fuentes (D-Camden/Gloucester). "This bill seeks to reduce healthcare costs in the long run while increasing the wellness of our residents without raising taxes..."

To read more, please visit the New Jersey General Assembly Democratic Office Web site.

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Quote of the Day

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"Gov. Chris Christie says he won’t campaign for the Republican gubernatorial candidate in New York because the cause is hopeless: Gov. Andrew Cuomo is ahead by more than 30 points. But he will campaign in New Hampshire, over and over, where the Republican is also trailing by more than 30 points. What’s the reason? It may be that New Hampshire holds the nation’s first presidential primary. It may be that he doesn’t want to mess with Cuomo, who knows where the skeletons are buried at the Port Authority. But one thing is certain: Gov. Straight Talk is spinning again. And it seems to be habit-forming." - columnist Tom Moran

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