Tagged: intrastate

March 8, 2015 @ 8:32 pm By JD Alois  |  

The state of California nearly enacted their own intrastate exemption late last year but politics got in the way of things and the bill ended up withering in a committee. One local crowdfunding advocate shared an update on AB 722; “I hear the forces are… Read More

March 5, 2015 @ 7:14 pm By JD Alois  |  

The state of Massachusetts, under the Office of the Secretary of the Commonwealth, enacted “emergency” crowdfunding regulations this past January. Secretary William Galvin, previously identified as highly skeptical of investment crowdfunding having vocally criticized the new form of finance, surprised industry followers when the rules… Read More

March 5, 2015 @ 5:07 pm By JD Alois  |  

Prequel, a new restaurant concept raising capital on EquityEats. successfully crowdfunded $220,100 from 339 investors closing over-funded.  The original target was to raise $200,000 for 10% equity for the startup firm. The funding round was all or nothing so the funding needed to hit the… Read More

March 4, 2015 @ 8:17 am By Anthony Zeoli  |  

Alright so maybe “all hail” might be a little much but cut me some slack, I’m excited. After more than a year of lobbying, campaigning and pounding the pavement Illinois finally has a filed intrastate crowdfunding exemption bill. Well, that’s not entirely true … Illinois… Read More

November 19, 2014 @ 9:16 am By Anthony Zeoli  |  

While just recently uploaded, sometime in October David Tatman, the administrator of the Division of Finance and Corporate Securities, filed a “Statement Of Need And Fiscal Impact” with the Oregon Secretary of State proposing , what he refers to as, “Community Public Offerings” (CPOs) …… Read More

November 12, 2014 @ 10:47 am By JD Alois  |  

Minnesota has joined the growing list of states that may want legalized investment crowdfunding now -and not just for accredited investors.  Recognizing that Title III is encumbered with excessive costs and a too low cap on amounts an issuer may raise,  a group called “MNvest”… Read More

November 7, 2014 @ 11:32 am By Anthony Zeoli  |  

As noted in my prior post, “Draft Bill: Illinois Intrastate Crowdfunding Exemption,” an official draft of my proposed Illinois Intrastate Crowdfunding Exemption was recently finished. To my surprise, people actually read it and I have been getting a lot of questions as to why I… Read More

October 24, 2014 @ 6:03 pm By Anthony Zeoli  |  

Well it’s official. At long last my proposed Illinois intrastate crowdfunding exemption has been formally drafted as a proposed bill. It may be without a sponsor at the moment but one step at a time…. For those that are interested in reading the full proposed… Read More

October 20, 2014 @ 2:00 pm By Masai McDougall  |  

In March of 2014, the Maryland General Assembly passed legislation enabling small businesses to participate in intrastate crowdfunding. The Maryland Securities Commissioner released its final rules for compliance with the exemption on October 1, 2014, making intrastate crowdfunding in Maryland fully legal. There are two… Read More

April 15, 2014 @ 10:43 am By Charles Luzar  |  

Intrastate crowdfunding exemptions are on the rise as legislators continue to exhibit interest in allowing small businesses to raise money online. However, several questions remain regarding how to effectively advertise these offerings without running afoul of securities regulations. According to an article in the National… Read More

April 2, 2014 @ 4:20 pm By Charles Luzar  |  

A telling quote coming from Hartford Business recently that supports our postulation that intrastate crowdfunding is creating interstate competition… “To be honest, I don’t understand what crowdfunding really is,” said State Sen. Gary LeBeau, an East Hartford Democrat who co-chairs the Commerce Committee. “I just… Read More

March 22, 2014 @ 10:32 am By Charles Luzar  |  

CrowdCheck has released the following comparative analysis of intrastate crowdfunding exemptions, providing a concise view of happenings in the various states that are currently considering crowdfunding exemptions. Michigan, North Carolina and Wisconsin are the only states to buck the $1 million annual cap on fundraising… Read More

March 4, 2014 @ 11:46 am By Charles Luzar  |  

Hey, this week we got through a whole episode of Inside Crowdfunding without any major glitches! Success! Alon and I had a great conversation with Nick Meehan of The Lobby. Nick’s project piqued our interest after he was profiled in a piece for Vice. It’s… Read More

March 1, 2014 @ 11:20 am By Charles Luzar  |  

Today The Detroit News has published a short editorial in support of Michigan HB 5273 (embedded, bottom of article), a bill that seeks to cement Michigan’s recently-passed intrastate crowdfunding exemption by creating secondary markets where crowdfunded shares can be traded. The bill’s primary sponsor is a… Read More

February 25, 2014 @ 11:05 am By Charles Luzar  |  

A hearing will take place this afternoon at 1:30 PST regarding ESHB 2023, which would implement a crowdfunding exemption in the State of Washington. As Joe Wallin and Michael “Luni” Libes point out, the exemption outlined under this legislation “would be substantially more accessible for… Read More

February 17, 2014 @ 11:18 am By Charles Luzar  |  

If we were tallying states up today, Kansas, Georgia, Michigan and Wisconsin have made equity crowdfunding legal and are in some stage of implementation. Alabama, Washington, Maine and North Carolina are all considering exemptions. Of course, that may change tomorrow. Amidst all the hoopla about a… Read More

February 14, 2014 @ 11:34 am By Charles Luzar  |  

The Maine House of Representatives have approved an intrastate crowdfunding bill by a vote of 129-1. The bill now heads to the Senate for final approval. Rep. Ricky Long (R-Sherman) cast the only nay vote. We’ve reached out to the bill’s primary sponsor, State Senator Justin… Read More

February 14, 2014 @ 10:44 am By Charles Luzar  |  

Washington State has been on the march toward an intrastate crowdfunding exemption, and yesterday the effort took one more step toward becoming reality. House Bill 2023 was approved with an 89-9 vote. The nine nay votes all came via House Republicans. The bill itself was… Read More

February 10, 2014 @ 10:28 am By Charles Luzar  |  

The Portland Press Herald has reported that the Maine Senate has given preliminary approval to LD 1512, a bill that would implement an intrastate crowdfunding exemption in the State of Maine. The bill now heads to the House for a vote. If approved it would head back… Read More

February 8, 2014 @ 12:48 pm By Charles Luzar  |  

The intrastate crowdfunding exemptions just keep coming. The latest state said to be considering an intrastate bill is Texas. Crowdfunding is part of Texas House Speaker Joe Strauss’s legislative agenda for this coming year. Various state news outlets report that just such a measure will… Read More