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SB 2897 Illinois Senate · 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 signed all 5 stages cleared
Introduction
Mar 2012
Committee Review
Apr 2012
Senate Passage
May 2012
House Passage
May 2012
Signed into Law
Aug 2012
Introduced Mar 28, 2012 Signed Aug 2, 2012
Floor votes · Senate Mar 28, 2012 · House May 10, 2012

How they voted

22–17
Passed · 7 other
Total votes 46
Mar 28, 2012
D Democratic27
22 Yea 5
81% Yea
R Republican19
17 Nay 2
89% Nay
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
53
Key actions
9
Committee
10
Amendments
6
Aug 2, 2012
Signed into law
Governor Approved
upper
May 10, 2012
Upper · Passed
Passed Both Houses
upper
Apr 25, 2012
Lower · Passed
Do Pass / Short Debate Judiciary I - Civil Law Committee; 009-002-000
lower
Apr 16, 2012
Committee
Assigned to Judiciary I - Civil Law Committee
lower
Mar 28, 2012
Committee
Referred to Rules Committee
lower
Mar 28, 2012
Introduced
Arrived in House
lower
Mar 28, 2012
Upper · Passed
Senate Floor Amendment No. 2 Adopted; Frerichs
upper
Mar 28, 2012
Senate · Passed
Senate Vote: pass (22-17-7)
senate
Mar 27, 2012
Introduced
Senate Floor Amendment No. 2 Recommend Do Adopt Judiciary; 009-000-000
upper
Mar 6, 2012
Introduced
Senate Floor Amendment No. 2 Assignments Refers to Judiciary
upper
Mar 1, 2012
Committee
Senate Floor Amendment No. 2 Referred to Assignments
upper
Mar 1, 2012
Introduced
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Michael W. Frerichs
upper
Feb 28, 2012
Upper · Passed
Do Pass as Amended Judiciary; 009-002-000
upper
Feb 28, 2012
Upper · Passed
Senate Committee Amendment No. 1 Adopted
upper
Feb 23, 2012
Upper · Passed
Senate Committee Amendment No. 1 Postponed - Judiciary
upper
Feb 22, 2012
Upper · Passed
Senate Committee Amendment No. 1 Assignments Refers to Judiciary
upper
Feb 22, 2012
Committee
Senate Committee Amendment No. 1 Referred to Assignments
upper
Feb 22, 2012
Introduced
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael W. Frerichs
upper
Feb 7, 2012
Committee
Assigned to Judiciary
upper
Feb 1, 2012
Committee
Referred to Assignments
upper
0 primary · 6 co-sponsors

Sponsors

No sponsor information available.