Nevada Benefit Corporations Bill Clears Committee - 8 News NOW

Nevada Benefit Corporations Bill Clears Committee

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CARSON CITY, Nev. (AP) -- Companies desiring to be accountable for their social and environmental impacts are just a little closer to being able to do so in Nevada.

AB89, introduced by Democratic Assemblyman David Bobzein of Reno, passed the Assembly Judiciary Committee on Thursday unanimously and without amendment.

Currently, companies are liable to their shareholders for how they handle the company's assets. Simply put, businesses must put profit above all else or they could be sued.

This bill allows companies to register as benefit corporations in the Silver State. That means they chose to have an obligation to make positive social and environmental impacts, and they would not be liable for focusing on more than profits.

AB89 now awaits an Assembly floor vote.

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