Senator Sean Wiley and Gannon University Discuss New Legislation in Pennsylvania

Posted: December 4, 2013

Gannon University is hosting a presentation on L3C legislation in Pennsylvania to Senator Sean Wiley. On December 5 at 12 p.m., students from Gannon's Business Policy class, taught by Bruce Kibler, Ph.D, will share their findings from their class project in which they researched existing legislation and business models in order to construct proper legislation for Pennsylvania and apply it to an existing business model in the Erie community. The presentation is part of an ongoing effort by Senator Wiley's team to establish legislation for that particular business model in the state.

The L3C, or Low-Profit Limited Liability Company, is a new type of corporate designation that is a cross between a nonprofit and a for-profit corporation. The L3C was first established in Vermont in May 2008 with the intent of creating a business model that builds upon the existing limited liability corporation (LLC) structure while also supporting a charitable cause. Currently, there are nine states with active L3C legislation and 26 states with pending legislation across the country, including Pennsylvania.

The presentation will be held at Gannon University's Palumbo Academic Center in Room 1200. In attendance will be Senator Wiley,  and members of his staff, director of community affairs Laura Guncheon and  chief of staff Anthony Angelone, along with Kibler, Dahlkemper School of Business students and faculty.