After passing two NM House Committees and an overwhelming positive House Floor vote, HB40 New Mexico Benefit Corporation Legislation passed through the second Senate Committee last night! The bill is now off to the Senate Floor for vote and if all goes well there, up to the Governor’s office for signature.

It has been an interesting experience for me to see how our legislative process really works in New Mexico. This years Legislative session is ending this Saturday at noon so it is really crunch time at the capital. The Senate was on the Floor until  after 6 pm so the normal Senate Judiciary Committee start time of 2:30 pm was not going to happen. The committee started around 6:30 pm and we waited patiently until about 10:30 pm to have HB40 heard.  There were some good questions from the Senators that expert witness, Erik Trojian of B-Lab, was able to address.  There was a lot of support for the bill in the audience and I explained to the committee why I believe HB40 would be a good for Dapwood.

1. Ensure that the business’s mission continues if I were to suddenly kick the bucket or sell controlling interest in the company. (Neither of which I plan to do but who knows what the future brings.)

2. Encourage investment in New Mexico companies by investors who want to help build socially minded companies.

It was hard getting home in the wee hours of the morning but I feel the effort will be worth it for New Mexico and Dapwood.