Bill Title: Creates the Benefit Corporation Act. Provides that a corporation may elect to become a benefit corporation by amending its articles of incorporation. Provides that in addition to its purposes under the Business Corporation Act of 1983 and any specific purpose set forth in its articles of incorporation, a benefit corporation shall have a purpose of creating general public benefit. Requires the preparation of an annual report for specified distribution and filing with the Secretary of State. Defines key terms and contains provisions concerning accountability and transparency. [Track Bill]

Status: 2012-08-02 - Public Act . . . . . . . . . 97-0885 [SB2897 Detail]

Text: Latest bill text (Chaptered) [HTML]

---

Sponsors

Name	Type	Sponsorship	Financial
Senator Michael W. Frerichs	Primary	Sponsored Bills	FollowTheMoney
Senator Michael Noland	Cosponsor	Sponsored Bills	FollowTheMoney
Senator Jacqueline Y. Collins	Cosponsor	Sponsored Bills	FollowTheMoney
Senator Heather Steans	Cosponsor	Sponsored Bills	FollowTheMoney
Representative Sara Feigenholtz	Primary	Sponsored Bills	FollowTheMoney
Representative Carol A. Sente	Cosponsor	Sponsored Bills	FollowTheMoney
Representative Sidney H. Mathias	Cosponsor	Sponsored Bills	FollowTheMoney
Representative Karen May	Cosponsor	Sponsored Bills	FollowTheMoney
Representative André M. Thapedi	Cosponsor	Sponsored Bills	FollowTheMoney
Representative Michael J. Zalewski	Cosponsor	Sponsored Bills	FollowTheMoney
Representative Jason Barickman	Cosponsor	Sponsored Bills	N/A
Representative Greg Harris	Cosponsor	Sponsored Bills	N/A
Representative Mike Fortner	Cosponsor	Sponsored Bills	FollowTheMoney
Representative Robyn Gabel	Cosponsor	Sponsored Bills	FollowTheMoney
Representative Kimberly DuBuclet	Cosponsor	Sponsored Bills	N/A

Social Comments on IL SB2897