A New Kind Of Corporation
A new economy requires a new kind of corporation. Maryland became the first state to pass Benefit Corp legislation in April 2010. Vermont followed in May. Seven other states are interested for 2011. Read more »
Benefit Corporations are a new class of corporation that are required to create a material positive impact on society and the environment and to meet higher standards of accountability and transparency. Model legislation was drafted by Bill Clark from Drinker Biddle & Reath .
Click on the following links to see the Business FAQs and Legal FAQs.
First Tax Break for Certified Sustainable Business
Tax and investment incentives and government purchasing preferences will accelerate growth of sustainable business. In December 2009, the City of Philadelphia passed legislation creating the country's first tax break for certified sustainable business. Conversations have begun in Portland, Oregon and Washington D.C. and with several federal agencies. Read more »
Click on the following links to read the actual Philadelphia Sustainable Business Tax Credit Ordinance and supporting B Lab Testimony.
Business Week - Read more »
The Huffington Post - Read more »
More Press - Read more »
Maryland Benefit Corp
Status: Passed April 2010
Sponsors: Sen. Jamie Raskin, Sen. Brian Frosh, Rep. Brian Feldman
Legislation: SB690/HB1009
Key Supporters: Jim Epstein, Michael Shuman
Quotes/Testimony: Sen. Jamie Raskin, Rep. Brian Feldman, Michael Shuman
Vermont Benefit Corp
Status: Passed May 2010
Sponsors: Sen. Peter Shumlin, Sen, Hinda Miller
Legislation: S.263
Key Supporters: VBSR, VEOC, Merritt & Merritt & Moulton
Quotes/Testimony: Jeffrey Hollender, Seventh Generation, Ben Cohen and Jerry Greenfield, Ben & Jerry's, Jim Feinson, Gardener's Supply Company, Ken Merritt
New York Benefit Corp
Status: S.7855 introduced May 2010
Sponsors: Sen. Daniel Squadron, Asm. Richard Brodsky, Sen. Neil Breslin, Sen. Jose Serrano
Legislation: S.7855-B
Key Supporters: Not Available
Quotes/Testimony: Not Available
Pennsylvania Benefit Corp
Status: Draft supported by PA Bar Association, May 2010
Sponsors: Not Available
Legislation: DRAFT
Key Supporters: SBN Philadelphia
Quotes/Testimony: Not Available
North Carolina Benefit Corp
Status: Drafted April 2010
Sponsors: Not Available
Key Supporters: Redwoods Group
Quotes/Testimony: Not Available
Washington Benefit Corp
Status: Drafted April 2010
Sponsors: Not Available
Key Supporters: Drew Markham
Quotes/Testimony: Not Available
Colorado Benefit Corp
Status: Initial draft August 2009
Sponsors: Not Available
Key Supporters: Not Available
Quotes/Testimony: Not Available
Oregon Benefit Corp
Status: Being Drafted
Sponsors: Not Available
Key Supporters: Not Available
Quotes/Testimony: Not Available
Philadelphia Sustainable Business Tax Credit
Status: Passed December 2009
Sponsors: Council Member Jim Kenney
Legislation: Legislation Ordinance 090119-A
Key Supporters: SBN Philadelphia, Greyston Bakery, Untours, Onion Flats, Bill Clark
Quotes/Testimony: B Lab Testimony
