Connecticut’s Benefit Corporation bill, S.B. 23, took another step closer to passage yesterday. Just after 5 pm, the Judiciary Committee voted 34-4 to send the bill to the Senate floor. Before it makes it to the floor to be voted on, however, it will need to go to the Office of Legislative Research, and the Office of Fiscal Analysis.

The Office of Legislative Research will draft a plain language summary of the bill for legislators and the public to use as a point of reference while studying the legislation. The Office of Fiscal Analysis will analyze the fiscal impact that passage of the legislation will have (if any) on the State’s budget this year, and will attach a “fiscal note” to the bill. The fiscal note provides an estimate and explanation for any expense that will be incurred by the State if the bill passes.

It’s not too late to show your support for S.B. 23, and to ask your state legislators to show theirs too! Check out the resources on reSET’s Get Involved! page to help you find your legislator and draft up a letter or e-mail to let them know you’d like them to support S.B. 23.

As always, if you have any questions, or would like to get involved in other ways to help support the passage of Benefit Corporation legislation, please contact reSET’s Public Policy & Impact Investing Specialist James Woulfe at JWoulfe@socialenterprisetrust.org.