For-profit public benefit corporations.
HB 85 creates a new corporate structure in Wyoming called "for-profit public benefit corporations" (FPBPs), allowing companies to operate for profit while legally committing to specific public benefits. It directly affects new companies forming under this law and existing businesses converting to this structure. Key provisions require FPBPs to: (1) state in their charter which public benefits they aim to serve (e.g., environmental sustainability or community development), (2) mandate directors to balance shareholder profits with those public benefits in decisions, and (3) prominently disclose their FPBP status on stock certificates and shareholder communications. This law modifies standard corporate governance to formally integrate social/environmental goals into business operations without changing the profit-driven nature of the entity.
Bill status
died
1 of 4 stages cleared
Introduction
Jan 2023
Committee Review
Floor Vote
Governor
Introduced Jan 16, 2023
Last action Feb 7, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
1
Committee
2
Feb 7, 2023
Committee
H COW:H Did not consider for COW
lower
Jan 26, 2023
Lower · Passed
H07 - Corporations:Recommend Do Pass 5-3-1-0-0
lower
Jan 16, 2023
Introduced
H Introduced and Referred to H07 - Corporations
lower
0 primary · 0 co-sponsors
Sponsors
No sponsor information available.
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