Benefit corporations bill up to bat in Senate
CARSON CITY, Nev. (AP) -- Nevada state senators are set to consider allowing companies to be accountable for their social and environmental impacts, alongside profit margins.
AB89, introduced by Democratic Assemblyman David Bobzein of Reno, is scheduled for a hearing Tuesday before the Senate Judiciary Committee.
Currently, companies are liable to their shareholders if they don't make profit their main priority. Focusing on other concerns could land business executives in costly civil court cases.
AB89 allows companies to register as benefit corporations in Nevada. Such businesses would be choosing to be accountable for their environmental and social impacts alongside their profit margin. In turn, they get immunity from lawsuits for not putting profit above all else.
The measure cleared the Assembly without any votes of opposition in committee or on the floor.