(a) There is established as a special fund the Pay-for-Success Contract Fund (“Fund”) which shall be administered by the Mayor or his or her designee in accordance with subsection (c) of this section.
(b) Each fiscal year there shall be deposited into the Fund the amount of the annual appropriation estimated to be paid in the next fiscal year for any pay-for-success contract.
(c) The Fund shall be used to fund payments to be made pursuant to pay-for-success contracts. The Chief Financial Officer shall create separate accounts within the Fund for each pay-for-success contract entered into by the District.
(d)(1) The money deposited into the Fund, and interest earned, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.
(2) Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.
(Feb. 26, 2015, D.C. Law 20-155, § 1134, 61 DCR 9990.)
Structure District of Columbia Code