Massachusetts has a chance to be a real leader in creating the legal infrastructure necessary to support sustainable businesses in America by passing Benefit Corporation legislation. The Legislature only had until July 31 to pass the legislation—an amendment to the economic development bill (renamed S.2350). The bill passed the Senate Floor on July 19, 2012 with the B Corp amendment intact. The bill entered a Conference Committee between the two legislative houses, which was followed by a return to the floors of both the House and Senate for concurrence votes.
In the last hours of the legislative session, the state legislature passed benefit corporation language as part of the State's overall economic development package, H4352.
The bill now goes to the Governor who is expected to sign it into law soon.