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HB 4708 Illinois House · 97th Regular Session

BENEFIT CORPORATION ACT

Summary
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.
Bill status failed 1 of 4 stages cleared
Introduction
Feb 2012
Committee Review
Floor Vote
Governor
Introduced Feb 2, 2012 Last action Jan 8, 2013
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
24
Key actions
3
Committee
8
Amendments
3
Mar 30, 2012
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 5, 2012
Lower · Passed
House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000
lower
Mar 2, 2012
Committee
House Floor Amendment No. 2 Referred to Rules Committee
lower
Mar 2, 2012
Introduced
House Floor Amendment No. 2 Filed with Clerk by Rep. Sara Feigenholtz
lower
Mar 1, 2012
Amended
House Committee Amendment No. 1 Tabled Pursuant to Rule 40
lower
Feb 29, 2012
Lower · Passed
Do Pass / Short Debate Judiciary I - Civil Law Committee; 008-003-000
lower
Feb 29, 2012
Lower · Passed
House Committee Amendment No. 1 Rules Refers to Judiciary I - Civil Law Committee
lower
Feb 21, 2012
Committee
House Committee Amendment No. 1 Referred to Rules Committee
lower
Feb 21, 2012
Introduced
House Committee Amendment No. 1 Filed with Clerk by Rep. Sara Feigenholtz
lower
Feb 15, 2012
Committee
Assigned to Judiciary I - Civil Law Committee
lower
Feb 3, 2012
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.