2018 House Bill 5869

Authorize business “benefit corporations”

Introduced in the House

April 24, 2018

Introduced by Rep. Sylvia Santana (D-9)

To authorize the incorporation of a new type of business organization called a “benefit corporation” that is explicitly authorized to perform service and money-disbursing actions typical of non-profit charities, in addition to profit-seeking business operations. The bill is part of a package comprised of House Bills 5866 to 5869 and 5872, and establishes charitable activity reporting requirements.

Referred to the Committee on Commerce and Trade