MADISON (WKOW) – Three Republican lawmakers want to use the popular crowd funding wave to help small businesses in Wisconsin.
The bill set to be revealed on Tuesday will change state law to allow for crowd funding to increase access to capital for small businesses.
Lawmakers say the crowd funding concept would allow individuals to contribute money online to reach a funding goal set up by a project creator or business owner. Funders typically receive some reward based on the amount of their contribution.
One of the most well-known crowd funding Internet sites is Kickstarter and it allows for a broad range of projects.
Reps. David Craig and Chad Weininger in the Assembly and Sen. Leah Vukmir in the Senate are sponsoring the bill.
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