A new bill that would make it easier for business investments passed in February with unanimous support. The Kentucky Crowdfunding exemption, Bill HB 76 sponsored by Rep. Riggs, creates online crowdfunding investment opportunities in Kentucky. The legislation proposes the creation of an online platform for Kentucky entrepreneurs that will make it easier for residents to invest in and support startup businesses.
The Kentucky crowdfunding bill would allow residents to invest up to $10,000 while helping businesses raise up to $2 million annually. Intrastate crowdfunding is expanding into many states and makes it much easier for businesses to raise the capital needed to launch or expand.
The Kentucky crowdfunding bill contains safeguards to protect investors from fraud and business disaster. This bill would complement the federal JOBS Act, Title III, and allow businesses to crowdfund without having to wait on the SEC stalled regulations.
Review the current Kentucky Crowdfunding Exemption:
Here are just a few features for Kentucky crowdfunding included in the CrowdForce platform software:
• State residency self-verification
• Driver’s license upload for verification
• Setting funding limits for non-accredited investors
• Allowing accredited investor participation
• Complete and simple document signing and management
• Integrated ACH payments
• Plug in your state escrow account
• Plugin in your broker services for accredited investments
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