Addressing SILO Act of 2023

Addressing Social Isolation and Loneliness in Older Adults Act of 2023 or the Addressing SILO Act of 2023

This bill provides funding through FY2027 for grants to prevent and address social isolation or loneliness among older adults and individuals with disabilities through education, outreach, and interventions. The Department of Health and Human Services must award these grants to area agencies on aging and community-based organizations.

Bill 118 hr 2692, also known as the Addressing SILO Act of 2023, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to address the issue of State and Local Government Leasing Arrangements, also known as SILOs.

SILOs are financial transactions in which state and local governments lease out public assets, such as transportation infrastructure or public buildings, to private entities in exchange for upfront cash payments. These arrangements have come under scrutiny in recent years due to concerns about their impact on government finances and the potential for abuse.

The Addressing SILO Act of 2023 aims to increase transparency and oversight of SILO transactions by requiring state and local governments to disclose detailed information about these arrangements to the federal government. The bill also establishes penalties for non-compliance and authorizes the Department of the Treasury to take enforcement action against entities that engage in abusive SILO transactions. Overall, the Addressing SILO Act of 2023 seeks to protect taxpayer dollars and ensure that state and local governments are held accountable for their financial dealings. It is currently being debated in Congress, with supporters arguing that it is necessary to prevent future abuses of the SILO system, while opponents raise concerns about potential unintended consequences of the legislation.