If crowdfunding legislation in the North Carolina Senate had been a separate bill, a law sent to the House would probably pass with flying colors. A crowdfunding-focused bill passed in the House in slam-dunk fashion a year ago.
On Thursday afternoon, the Senate did in fact approve crowdfunding – but it’s part of a larger piece of legislation. And that fact means crowdfunding’s future is a matter of guesswork right now.
“They passed it an hour ago,” WRAL Capitol Bureau Chief Laura Leslie said via email to The Skinny just before 1 p.m.
But there’s a caveat.
“It now goes to the House where its future is uncertain.”
The Senate on Wednesday gave tentative approval to a the package known as H 1224.
Economic development legislation, including an increase in state tax rebates for new job growth, also is at stake in the bill.
But the sales tax provisions could prove to be poison in the House. [Read full details online.]
Crowdfunding known as the NC JOBS Act was made part of the bigger Senate bill on Monday.
The overall bill can be read online.
Here’s what WRAL’s Laura Leslie wrote of the revamped bill earlier this week:
“The next stop for the legislation is the Senate floor, where it could be debated as soon as Wednesday. The bill would still need the approval of the House.
“House finance leaders said Tuesday they were not informed about the bill by Senate leaders and are trying to learn more about the proposal.”
Just last week, the Senate Commerce Committee approved the crowdfunding legislation.
