State : : Congressional
   Tracking  : : News  : : Research
European Tracking
Home | Subscribe for 2014 | 2014 Session Dates | Newsletter | ACA Report 2.0 | LegiCrawler Services : : Congress | 50 States | Canada | EU | Log In

Help us design LegiCrawler 3.0!

The best idea wins a free month of Congressional bill tracking for one issue group. We want to find out how we can make you more successful in 2014 with our suite of services: LegiCrawler TM, AdmiCrawler TM, PoliCrawler TM, , and LexiCrawler TM, . Simply fill out the short survey linked below and make sure to include your email address if you want to be considered in the competition. Thank you in advance!

Help Us Design the Perfect Service for You

Bill Tracking for 1 Year / 1 Issue Category

Yearly Subscription Options:

LegiCrawler Adds Video Content

LegiCrawler brings video content right into your legislative tracking reports.

That means you can watch committee hearings and floor debates as you add notes and labels and manage your tracking lists. Videos slide right into the note space under a bill you are tracking -- so you can send it right on to a colleague.


March 30, 2014

A growing number of states have recently passed legislation enabling crowdfunding for small enterprises. It's a way for startups to raise small amounts of investment capital from a large number of investors.

Washington is the latest state to act. Governor Jay Inslee signed the bill last Thursday.

The bill exempts certain small securities offerings from registration under the Securities Act of Washington if first filed with and declared exempt by the state's Department of Financial Institutions.

Georgia, Kansas, Maine, Michigan and Wisconsin have already acted to ease restrictions on crowdfunding. Other states are considering measures, as well.

Federal securities law had long granted same-state issuers and purchasers an "intrastate offering exemption." Then in 2012 Congress passed the Jumpstart our Business Startups (JOBS) Act, which allows non-accredited individuals to invest small amounts of money in private companies.

The SEC has proposed rules on the the JOBS Act, but has not finalized them.

In the state of Washington, lawmakers found that "the costs of state securities registration often outweigh the benefits to Washington start-ups seeking to make small securities offerings and that the use of crowdfunding for business financing in Washington is significantly restricted by state securities laws."

The bill sets clear restrictions to protect small investors. '

Restrictions include a crowdfunding cap of $1 million during any 12-month period, and the aggregate amount sold to any investor by an investor during the 12-month period preceding the date of sale may not exceed the greater of $2,000 or 5 percent of the investor's annual income or net worth if the investor's income or net worth is less than $100,000.


Legicrawler ® is a product of Krantz News Service, Inc., which has been providing Internet solutions since 1989
Please click here for LegiCrawler's privacy statement and cancellation policy
Copyright © 1989-2014 Krantz News Service