HEA 1015 Summary

• Amends Indiana Code filing fees for business and corporation documents, effective January 1, 2016, with electronic filing fees generally lower than paper filing fees.

• Adds shareholder dissent rights for elections to become a benefit corporation under new IC 23-1.3-3-2.

• Creates comprehensive benefit corporation framework allowing corporations to adopt dual purpose of generating general public benefit and specific public benefits alongside profit motive.

• Requires benefit corporations to maintain independent benefit director, prepare annual benefit reports assessed against third-party standards, and limits shareholder liability for failure to achieve stated public benefits.

• Restricts benefit enforcement proceedings to specific parties including shareholders owning 2% of shares, directors, and entities holding 5% of parent company equity.