On Tuesday the House Commerce Committee voted in favor of SB 215, a bill to allow Benefit Corporations, also known as "B Corps," to form in New Hampshire. The full House will vote on the bill later this spring.
When making decisions, B Corps are allowed to consider public benefit in addition to profit for shareholders. Regular corporations are vulnerable to lawsuits if they make decisions that do not maximize profits.
However, Rep. Emily Sandblade (R-Manchester) argued that the simultaneous goals of profit and public benefit would make corporations even more vulnerable to lawsuits.
"We are creating a whole new form of business," said Sandblade. "We are unleashing this, and people who are going the B Corp route are going to get their pants sued off."
Rep. John Hunt (R-Rindge) countered, "We are being way too nanny about this bill. Don’t worry your silly little heads about it. Some people want a touchy-feely corporation. What’s the harm?"
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