Washington, D.C. :: Benefit Corporation Act

In late 2011, the Benefit Corporation Act (Bill Number B19-0584) was introduced in the Council of the District of Columbia, proposing the authorization of a new type of entity that would make it possible for companies to create structures that are both profitable and socially responsible. On May 1, 2013, that legislation became effective, adding Washington, D.C. to the list of more than a dozen jurisdictions and states, including California and New York, that have enacted similar legislation. The Benefits Corporation Act provides a voluntary corporate model, and does not impact corporations that choose not to opt into the form.

For a complete list of states where benefit corporation legislation has passed, go here.

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