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Assembly bill would allow for crowdfunding, help small businesses

Last month, I, along with my colleagues Rep. David Craig, R-Vernon, and state Sen. Leah Vukmir, R-Wauwatosa, introduced Wisconsin’s CASE for Jobs Act, Assembly Bill 350, into the Wisconsin Legislature. Popularly known as crowdfunding legislation, this bill aims to add Wisconsin to a small group of states on the cutting edge of providing better access to small business capital. AB 350 works to reform Wisconsin’s securities laws and allow for crowdfunding in our state as a means of connecting Wisconsin-based investors with Wisconsin-based start-ups and businesses. While crowdfunding websites like Kickstarter are not new, there are only a handful of states that have changed their laws to allow similar, but more advanced, funding mechanisms on a local level. These crowdfunding sites can serve as a one-stop shop that will allow local investors and small businesses to be connected through Wisconsin-based websites in order to raise capital and offer stock. AB 350 is commonsense legislation that focuses on jobs by allowing our state’s small businesses to be unshackled from New Deal era ideas and use 21st century technology to offer stock in their business as a way to gain capital and investment dollars. People are more likely to invest in a […]

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