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NYS Benefit Corporation Legislation Goes to a Vote: Help Pass Historic BillJune 03, 2011 A benefit corporation, or B-Corp, is designed to harness the power of business in order to solve social and environmental problems. As a B-Corp, companies have a legal responsibility to community stakeholders, rather than just shareholders, and are therefore held accountable for maintaining a transparent fiscal policy, proving environmental stability and clearly outlining social benefits. B-Corp legislation gives entrepreneurs and investors the option to establish and invest in businesses that meet higher standards of corporate purpose, accountability and transparency without increasing regulation or affecting the state budget. The state initiatives that would allow for the creation of B-Corps within New York State passed in the State Senate in June 2010 but were held up for further examination in the Assembly. Recently, the bill regained momentum by garnering bipartisan leadership in the Senate (Sens. William J. Larkin, Jr., and Daniel L. Squadron) and the support of Speaker of the State Assembly, Representative Sheldon Silver. We're only as good as the company we keep. The B Corporation community is diverse as it is strong, with hundred million dollar companies standing side by side with start-ups sharing one common goal, changing the world through business. Imagine, New York State filled with companies that put people at the forefront of decision-making, prioritize sustainable practices, transparent in nature, serve the underserved and use these principles to push our state towards real economic prosperity. Imagine a system in which businesses are accountable to community and the environment, rather than only the bottom dollar. Right now, we have that chance. As of today, S. 79 Benefit Corporation legislation is scheduled to be on the Senate Corporations Committee agenda for Monday. This is Chaired by Senator Michael Ranzanhofer (R- 61st District), who represents individuals and businesses in both Genesee and Erie County. He voted yes on the bill this week in the Senate Judiciary Committee. We need him to join Senator Larkin, another Republican, to co-sponsor the bill. The bill is primarily sponsored by a Democrat, Senator Squadron, in a Republican Senate. The City of Buffalo has the potential to benefit largely from this legislation. Permitting the creation of B-Corps is a big step towards establishing a more sustainable living economy and community in the city and throughout Western New York. Western New York, if not now, when? Pick up the phone now and contact Senator Ranzanhofer today and ask for him to co-sponsor bill S. 79 Benefit Corporation legislation. Sample Script: My name is _____________. I'm calling from ______________. The reason I'm calling is to urge Senator Ranzanhofer to put his full support behind S.79, NYS Benefit Corporations, and to sign on as a co-sponsor of this bill with Senators Larkin and Squadron. Permitting the creation of B-Corps is a big step towards establishing a more sustainable economy in my community and throughout New York. District Office:
8203 Main Street Suite 4 Albany Office:
188 State Street Room 848, Please forward to all interested parties.
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