Crowdfunding has been used to finance a vast assortment of projects in the last few years, but federal regulators have been slow to implement the sections of the JOBS act that allow most individuals to invest in startups financed by equity crowdfunding. In response, states have passed laws allowing companies to create crowdfunding platforms that cater to investors and entrepreneurs within the same state.

The crowdfunding industry in the United States has expanded rapidly in the last few years, growing from $2.7 billion in 2012 to an estimated $34.4 billion in 2015.  This growth has been driven by the expansion of online crowdfunding platforms that facilitate interaction between companies and potential investors.  Although the US JOBS act sought to regulate crowdfunding in 2012,...

MEMPHIS, Tenn.—There’s a rich history of entrepreneurs in Tennessee. From FedEx founder Fred Smith to hospital management company HCA, entrepreneurs have thrived in the Volunteer State.
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Wisconsin lawmakers passed a bill in October that they say will provide a new way for the state’s small businesses to access capital — “crowdfunding.” AB 350 received unanimous approval in the Assembly and Senate.

Stateline Midwest ~ May 2013

At the same time that the nation’s unemployment rate was falling in 2012, entrepreneurial activity was slowing. According to the Kauffman Foundation’s annual Index of Entrepreneurial Activity, an average of 300 per 100,000 Americans started a business in 2012, down from 320 in 2011. This translates into approximately 514,000 new business establishments created each month in 2012, compared to about 543,000 in 2011.

Rhode Island Governor Chaffee signed L3C Legislation into law on June 13, 2011 with the legislation to be effective July 1, 2012. HB 5279 was sponsored by Rep. Christopher Blazejewski.

In April, Blazejewski stated that “With many students graduating from our colleges and universities with a focus on entrepreneurship and community service, Rhode Island is well-positioned to become the Silicon Valley of the social venture movement,” said Representative Blazejewski (D-Dist. 2, Providence, East Providence). “As a tool for...

This Act directs the state department of agriculture and forestry to set up a financing program to stimulate investment in healthy food retail outlets in underserved areas of the state. The Act defines "Healthy food retailers" as for-profit or not-for-profit retailers that sell high quality fresh fruits and vegetables at competitive prices including but not limited to supermarkets, grocery stores, and farmers‘ markets.

At the end of September, President Obama signed into law the Small Business Jobs Act, which includes more than $1.5 billion for states to cultivate small-business job growth in 2011 and beyond.

CSG South

The federal Small Business Jobs Act of 2010 is designed to generate critical resources to help small businesses drive economic recovery and create jobs. An important component of this new legislation involves the State Small Business Credit Initiative (SSBCI), a formula grant program structured to assist local entrepreneurs and small business owners secure the necessary credit to expand their businesses, create jobs and generate revenue. Specifically, the SSBCI provides $1.5 billion in federal funding to states to initiate programs that expand credit opportunities for small businesses. State commitment to involve the private sector in implementing these programs remains a critical element of the SSBCI, and states are required to demonstrate and help facilitate $10 in new private lending for every $1 in federal funding. In total, it is anticipated that the $1.5 billion federal commitment will lead to a minimum of $15 billion in additional private sector lending to spur small businesses.

NOW, THEREFORE BE IT RESOLVED, that The Council of State Governments acknowledges the recent dialogue rating agencies have conducted with state treasurers and other issuers in this regard and recommends that: (1) rating agencies should utilize a single rating scale for all debt instruments such that a rating applied to a municipal bond indicates the same credit risk as that same rating applied to corporate bonds, while also recognizing the need for relative ratings amongst municipal issuers; and (2) ratings should measure the ability of an issuer to meet its obligation to investors as promised in the bond documents, such obligation primarily being to pay debt service on time and in full.