Benefit corporation

The Senate Civil Law Committee heard HB 1015, sponsored by Sens. Merritt, Head and Broden, allowing a business entity to incorporate as a benefit corporation under Indiana law. A benefit corporation allows a company to make a profit while protecting non-profit like objectives, to promote “social entrepreneurship.” The bill passed 6-0.

Read the bill at http://iga.in.gov/legislative/2015/bills/house/1015.