As used in this part 4, unless the context otherwise requires:
"Contract" means a pay for success contract entered into by the office and a leadcontractor, or the office, one or more local governments, and a lead contractor as authorized by section 24-37-403.
"Fund" means the pay for success contracts fund created in section 24-37-403.
"Investor" means a person or entity that is not a lead contractor or provider and thatprovides working capital to fund the provision of services under a contract.
"Lead contractor" means an organization or local government selected by the directorof the office to participate in the state program by:
Entering into a pay for success contract with the office or with the office and one ormore local governments, as applicable, to provide program-eligible interventions directly or through subcontracts with other providers;
Overseeing the provision of program-eligible interventions by any other providerswith which it subcontracts; and
Using its own money or borrowing money to pay the costs of providing programeligible interventions throughout the contract as negotiated by the parties and, if the programeligible interventions that it provides meet the defined performance targets established in a pay for success contract, receiving success payments.
"Local government" means a county, municipality, or school district.
"Program-eligible interventions" means services provided in order to improve thelives and living conditions of individuals by increasing economic opportunity and the likelihood of healthy futures and promoting child and youth development.
"Provider" means a person or entity that provides program-eligible interventions on afor-profit or nonprofit basis. "Provider" includes:
A lead contractor that provides program-eligible interventions directly rather thanentering into subcontracts with other providers for the provision of such interventions; and
A local government, which may be the same local government that establishes aprogram-eligible interventions program, that provides program-eligible interventions.
"School district" means any public school district organized under state law or aninstitute charter school created pursuant to part 5 of article 30.5 of title 22, C.R.S. "School district" does not include a local college district.
"State program" means the pay for success contracts program established in section24-37-403.
"Success payments" means payments made to the lead contractor for meeting defined performance targets specified in a pay for success contract.
Source: L. 2015: Entire part added, (HB 15-1317), ch. 205, p. 737, § 1, effective May 20.