WOOT! Benefit Corporations passed House, Senate, & Governor's office in Louisiana!
Thrilled to see today's news that the B-Corp will soon be available for businesses in Louisiana! Such exciting news for social entrepreneurs and startups. The new law goes into effect August 15 & Louisiana is the 8th state to approve them! A few weeks ago I was invited by the New Orleans Business Alliance to help testify in the House for this Bill's approval for passage, to then go on to the Senate. Local solar panel business, Joule, attended the following senate session to also testify in support of the Bill. I met two members of NOBA to catch a ride up for the trip to Baton Rouge [my car needed a little pick me up]. It was a grey, stormy day & we needed to be there early in case the Bill was called first. It was my first time to the art deco capitol & I believe also my first time to testify for a Bill's passage. We were lucky in that the Bill [HB 1178] was called pretty early & didn't have to wait the entire day. Although, I found the hearings interesting. The one prior to ours was a proposal to have all water pumps installed by a certified professional.. seems like a good idea.. and one that will become more political, especially as water becomes more precious in years soon to come.. Back to the B-Corp: All seemed to be in favor & it went quite smoothly. There was one question of a wary bent, which I was impressed with Walt Leger's response. The representative in somewhat opposition had asked his aides to do some research on Benefit Corporations. In doing so they found a blurb by the B-Lab [I think] stating that they would like to see all businesses eventually become B-Corps. The representative found this slightly offensive in that they would hence be taking over all other business structures I suppose. The jist of Mr. Leger's response was that he didn't see what would be wrong with that, if a business is doing good both financially and for the world, wouldn't it better if all businesses were doing that? I loved that response, especially said in the House of Representatives. Thank you. My part essentially was to talk about being an L3C, how this had helped my business for social change, and how I thought businesses & communities would benefit with the option of a B-Corp in Louisiana. Also, how the L3C and B-Corp differ and how enticing it is to have both in Louisiana for new entrepreneurial ventures. I was thrilled to help! Kudos to Walt Leger, the New Orleans Business Alliance, & Propeller for their work in bringing B-Corps to LA! Looking very forward to this exciting option! ... As part of the 'field trip' to the capitol, I also had to see the bullet holes still in the marble wall where Senator Huey Long was shot in 1935. Evidently they are now a little hidden behind a large statue, but still seen near the Governor's elevator.