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March 19, 2012 / teamprofounder

Update on Crowdfunding Legislation

Great news – tomorrow the Senate is voting on the crowdfunding bill and, with your support, it could soon become law.

If you support crowdfunding, please email your Senator today and tell them: “I support crowdfunding and hope that Senator X will vote in favor of it during tomorrow’s deliberations on the JOBS Act”

Find your Senator here. Every senator has a contact page where you can quickly and easily submit this message.

More background:

The crowdfunding bill is now packaged as part of the JOBS Act and the Senate is voting on the whole package tomorrow with language already approved by the House. If it passes, the President has already indicated that he will sign it into law right away. Once law, it will then go to the SEC for additional rule making and fleshing out. If the bill doesn’t pass as-is, but the Senate passes its set of proposed amendments to the Act instead, it will go back to the House for a compromise and the process with repeat. Instead of taking sides on one version of the bill versus another, we think it’s important to support the idea of crowdfunding and stay out of the politics. We feel that at the end of the day, passing either version will create a framework that the SEC and industry groups can build on.

Some resources: 

A summary of what’s included in the JOBS Act.

Full text of the House version of the crowdfunding bill (HR 2930) which is in the current version of the JOBS Act

Full text of the Senate’s version of the crowdfunding bill (S 2190) which will be included in a package of proposed amendments to the JOBS Act

2 Comments

Leave a Comment
  1. 21stcenturyhobo / Mar 27 2012 3:44 pm

    Congratulations and thank you for all your efforts on this!

  2. Patrick Tierney / Apr 19 2012 2:44 pm

    Now that the bill passed, will you start up again? When?

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