Legislation opponents have dubbed the "billionaire's bill" is now headed to the Delaware Senate. Here's the debate around it.

All 20 of the state's 21 senators present in the Senate chamber voted to pass SB 21, the bill that proposes changes to the Delaware General Corporation Law. The bill's primary sponsor, Bryan Townsend,

Delaware and Texas face off over corporate law reforms, influenced by Elon Musk, raising shareholder concerns and changing business dynamics.

The Delaware Senate unanimously passed Senate Bill 21 on Thursday, a controversial measure that has sparked heated discussions inside Legislative Hall.

Supporters of the legislation said during the hearing that the bill is needed to quell concerns from corporations and avoid a hit to the state's largest source of revenue.

Senate Bill 21, in its current form, defines what a controlling shareholder is within a Delaware registered company – and codifies various levels of scrutiny that constrains those controllers’ actions within the company.