John wrote:

I have not read a copy of the legislation yet, but based on press reports I think entities like mine (The Emancipation Network) would want to seriously consider registering as an L3C in Vermont.

As a Vermonter, I am ambivalent about this line of reasoning. First, the state needs businesses that add value to the state economy, and as such the legislation is intended to boost the prospects for community development through, say, home grown agricultural enterprises that provide a social return on investment (for example, farms and the preservation of landscape as heritage in my book) or, as one state rep puts it, "downtown redevelopment, low-income housing, energy initiatives and work force development."

So my question would be, "What does Vermont get for registering companies like Emancipation Network"? I don't mean this to be crude or unsympathetic to the good work of EN. Rather, to point out the intent of the legislation.

I am sure that with the new law will come regulatory concerns, and perhaps some kind of oversight agency will be needed to make sure that companies aren't moving to the state for legal shelter, without an interest in the state's economic growth agenda.

Alternatively, there could be the view that either way, its good for Vermont. I'm not convinced of that, yet. Rather, I feel folks who like the L3C concept work to enact similar laws in their state, using the resources of Americans for Community Development and Vermont's legal precedent as a launching pad.

What do you think?