NYS B Corporation sign now

Dear NYS Senate Representatives,

I am writing to express my support for S.7855, the Benefit Corporation Bill, and to ask you to co-sponsor it.

A Benefit Corporation is a new corporate entity offering entrepreneurs and investors the option to build and invest in businesses that meet higher standards of corporate purpose, accountability and transparency. In a traditional corporation, fiduciary duty focuses on increasing shareholder profits. In the case of Benefits Corporations fiduciary duty is redefined by stating that the creation of public benefit is in the best interests of the Benefit Corporation. This allows corporate officers to define other goals beyond just making a profit and then gives investors the power to require those officers to make decisions that reflect those goals, even when they lower profitability.

A new economy is blossoming across the country made up of businesses that are finding ways to do well while helping our environment and society at large. States that welcome these new businesses will be poised for growth. Please dont let New York be left behind. Please co-sponsor S.7855

Sincerely,

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Adeline ShieldsBy:
Transport and infrastructureIn:
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NYS Senate Representatives

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