AB927: Bill Text

LRB-3866/3

MPG&MDK:kjf

2015 - 2016 LEGISLATURE

2015 Assembly BILL 927

February 18, 2016 - Introduced by Representatives Zamarripa, Kleefisch, Wachs, Berceau, Brostoff, Goyke, Horlacher, Johnson, Ohnstad, Spreitzer and Zepnick, cosponsored by Senators Lassa, Gudex and L. Taylor. Referred to Committee on Jobs and the Economy.

AB927,1,2 An Act to create 234.652 of the statutes; relating to: crowdfunding projects for creating jobs or promoting economic growth.

Analysis by the Legislative Reference Bureau

This bill requires the Wisconsin Housing and Economic Development Authority (WHEDA) to contract with a business maintaining a crowdfunding Internet site that recommends funding projects of small businesses and community organizations that create jobs or promote economic growth in this state. The bill defines "crowdfunding Internet site" as an Internet site for campaigning and collecting donations for projects. WHEDA must solicit project proposals from small businesses and community organizations for inclusion on the crowdfunding Internet site, select projects for inclusion, and provide assistance to donation campaigns for the selected projects.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB927,1 Section 1. 234.652 of the statutes is created to read:

AB927,2,2 234.652 Crowdfunding for jobs and economic growth. (1) In this section, "crowdfunding Internet site" means an Internet site that allows a person to campaign for and collect donations to fund a project that the person describes on the Internet site.

AB927,2,10 (2) The authority shall contract with a business maintaining a crowdfunding Internet site that recommends funding projects of small businesses and community organizations that create jobs or promote economic growth in this state. The authority shall solicit project proposals from small businesses and community organizations for inclusion on the crowdfunding Internet site, select projects for inclusion, and provide assistance to the small businesses and community organizations whose projects are included in their campaigns for donations on the crowdfunding Internet site.

AB927,2,11 (End)