UPDATE: Gov. Walker signs crowdfunding bill - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

UPDATE: Gov. Walker signs crowdfunding bill

Posted:

MADISON (WKOW) -- Gov. Scott Walker (R-Wisconsin) signed a bill into law Thursday that will allow people to invest in Wisconsin companies online, a process known as crowdfunding.

The Governor signed AB 350 at University Research Park, saying it will allow startup companies to have greater access to investment capital.

"This bill reforms government for the 21st century by providing a market driven solution in helping startups raise the capital they need to grow and create jobs," Governor Walker said. 

Bill authors Rep. David Craig (R-Big Bend) and Sen. Leah Vukmir (R-Wauwatosa) say the bill was important because small existing companies and startups have a tough time getting bank loans.

The Department of Financial Institutions will now begin work on a website where people can browse companies and make investments, but officials there say it won't be operational for at least four months.

********

MADISON (WKOW) –Governor Scott Walker is planning on signing a crowd-funding bill into law on Thursday.

The measure would change the state's securities laws so people could invest in companies online. 

Supporters argue it will help grow entrepreneurship by allowing companies to bypass banks.  It will also give regular people a chance to help startup businesses succeed.

 

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WQOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's pubic inspection file should contact Director of Station Operations Lisa Patrow at 715-852-5920. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.