Bill Summary for H 616 (2017-2018)

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Summary date: 

Jun 26 2017

Bill Information:

View NCGA Bill Details2017-2018 Session
House Bill 616 (Public) Filed Wednesday, April 5, 2017
AN ACT TO ENACT THE NORTH CAROLINA PUBLIC BENEFIT CORPORATION ACT.
Intro. by McGrady, Dobson, Ross, Zachary.

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Bill summary

House amendments make the following changes to the 2nd edition.

Amendment #1 deletes proposed changes to GS 55-13-02.

Amendment #2 amends GS 55-18-02 by adding that no unit of local government or political subdivision of the State or local government may incorporate as or transition to a public benefit corporation.

Amendment #3 further amends GS 55-18-02 by adding that State and local governments must not provide benefits or preferential treatment to public benefit corporations formed under the new Article that are not also available to corporations for profit that are not public benefit corporations.