Conn. seeks to spur 'social benefit' businesses - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

Conn. seeks to spur 'social benefit' businesses

Posted: Updated:
Connecticut News Connecticut News
By STEPHEN SINGER

HARTFORD, Conn. (AP) - Connecticut is trying again to rework state law allowing business owners to organize companies using alternative business models seeking social change rather than focusing solely on boosting profit.

The legislature's Commerce Committee has scheduled a hearing on Tuesday, three weeks before the start of the 2014 session, to consider legislation that would allow business owners to establish so-called "benefit corporations." Similar legislation failed last year and in 2012. Lawmakers and advocates believe they have a good chance to pass a measure before the legislature adjourns in May.

Benefit corporations, or B-corps, are intended to allow a portion of a company's profit to be used for social purposes such as promoting the arts, protecting the environment or reducing poverty, without fear of shareholder lawsuits.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Connecticut NewsConnecticut NewsMore>>

  • Cops: 73-year-old man shoots neighbor in dispute

    Cops: 73-year-old man shoots neighbor in dispute

    Monday, April 21 2014 7:37 AM EDT2014-04-21 11:37:28 GMT
    A 73-year-old Connecticut man will be appearing before a state judge after being charged with shooting his neighbor three times during an argument on Easter morning.
    A 73-year-old Connecticut man will be appearing before a state judge after being charged with shooting his neighbor three times during an argument on Easter morning.
  • Rifle seized after squirrel shooting in Milford

    Rifle seized after squirrel shooting in Milford

    Thursday, April 17 2014 8:48 AM EDT2014-04-17 12:48:12 GMT
    Connecticut State NewsConnecticut State News
    Police say they found an unregistered assault rifle and three large-capacity magazines in the home of a Milford man accused of shooting a squirrel.  James Toigo has been charged with unlawful discharge of a firearm, cruelty to an animal, reckless endangerment, breach of peace, failure to register an assault rifle and possessing large-capacity magazines.
    Police say they found an unregistered assault rifle and three large-capacity magazines in the home of a Milford man accused of shooting a squirrel.  James Toigo has been charged with unlawful discharge of a firearm, cruelty to an animal, reckless endangerment, breach of peace, failure to register an assault rifle and possessing large-capacity magazines.
  • Time takes toll on 1907 Meriden clock tower

    Time takes toll on 1907 Meriden clock tower

    Wednesday, April 16 2014 12:22 PM EDT2014-04-16 16:22:55 GMT
    A 107-year-old clock tower atop Meriden's City Hall could be removed as city officials grapple with a $350,000 renovation cost.
    A 107-year-old clock tower atop Meriden's City Hall could be removed as city officials grapple with a $350,000 renovation cost. Weather has caused the tower's exterior to rot.
Powered by WorldNow

25 FOX Drive
Dedham, MA 02026

Phone (781) 467-2525

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices