Crowdfunding Bill Allowing Stock Sales Passes

MADISON, Wis. (AP) -- The Wisconsin state Senate has passed a bill designed to help small businesses in the state find investors online.

The measure would let businesses use a model popularized by online crowdfunding sites like Kickstarter.

On those sites, the public can donate money to help finance projects but the bill would allow Wisconsin investors to purchase stock and equity in a business.

Supporters say the measure is a good way to help small businesses succeed at no cost to the state.

Only Kansas and Georgia have passed similar laws allowing states to offer stock sales through crowdfunding.

The Wisconsin bill passed the Assembly last week so now heads to Gov. Scott Walker.

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