MS HB149

Creates the "Mississippi Benefit Corporation Act" allowing businesses to incorporate as benefit corporations that must pursue general public benefit (positive impact on society and environment) in addition to standard corporate purposes

Requires benefit corporations to be incorporated under the Mississippi Business Corporation Act with articles of incorporation stating benefit corporation status; existing corporations may elect to become benefit corporations with a two-thirds shareholder vote

Mandates directors and officers consider effects on shareholders, employees, customers, community, environment, and the corporation's long-term interests when making decisions, while providing liability protection for good-faith business judgments

Requires annual benefit reports describing how the corporation pursued public benefit, assessed against a third-party standard, to be sent to shareholders within 120 days of fiscal year end and filed with the Secretary of State for a $25 fee

Limits who may bring enforcement proceedings against benefit corporations for failure to pursue public benefit to the corporation itself, shareholders owning at least 2% of shares, directors, or 5% equity holders in parent entities