How do you get from idea to state law?
In following the journey of California’s AB 361 and the number of other bills across various states that would create (or have created) a new corporate form called a benefit corporation—learning the impetus for the legislation is often as interesting as
understanding the process.
And the story of California’s AB 361 is particularly interesting. You can watch California State Assemblymember for the 6th Assembly District Jared Huffman talk about the crowdsourcing origin of AB 361 and other key points of the bill below.
Assemblymember Huffman is the sponsor for AB 361, which was recently voted through the California State Senate Committee on Banking and Financial Institutions and also successfully passed through the State Judiciary Committee.