HB1154

South Dakota would create a new type of business structure called a "public benefit corporation" that allows companies to legally pursue social or environmental goals alongside profits. Companies choosing this structure would follow standard corporation rules under existing law, except where the new public benefit corporation requirements take priority. The bill defines two types—general benefit corporations that pursue broad public good and (implied) specific benefit corporations for targeted causes—and requires major decisions like changing the corporation's public benefit purpose to be approved by two-thirds of shareholders.