Bills to Watch
NCBC opposes the argument that a corporate tax cut will attract more companies to the state. Many potential businesses look at things like our education system and vibrant communities when deciding to locate in North Carolina. This proposed bill would potentially yank millions of dollars of tax revenue from the state's budget that would fund the very things that are needed to spur real economic growth and build our communities such as good schools and a clean environment.
NCBC continues to track NC House Bill 616 (HB 616), the "North Carolina Public Benefit Corporation Act." HB 616 has moved through the finance committee and is now on deck for a floor vote. The bill is co-sponsored by Josh Dobson (R-McDowee), Steve Ross (R-Alamance), and Lee Zachary (R-Yadkin). HB 616 is modeled on Delaware's B-Corp Legislation. According to HB 616, NC B Corp would declare (in its articles of incorporation) a "public benefit," which would be defined as a "Positive effect or reduction of a negative effect on one or more categories of persons, entities, communities or interests." A "public benefit, Per HB 616, could include "effects of an artistic, charitable, cultural, economic, educational, environmental, literary, medical, religious, scientific, or technological nature." These stated public benefits could fall anywhere on the political spectrum or be completely apolitical. To learn about the B-Corp Clinic visit here.