H1224 – the big bill packaging a lot of legislation that concerns entrepreneurs, investors and economic developers – ran into a buzz saw of criticism Wednesday morning.

The N.C. House won’t “concur” with the big Senate bill that includes crowdfunding and economic development legislation. But that doesn’t mean crowdfunding is dead, says WRAL’s Capitol Bureau Chief Laura Leslie.

“I wouldn’t say the bill is dead,” Leslie tells The Skinny.

“It will go to conference committee. I would expect that it will be broken into parts.

“House leaders had major issues with the sales tax provision and the [proposed] job catalyst fund.” (The Catalyst Fund is broken down in detail online in a WRAL TechWire story.)

If the bill is split up, crowdfunding might have a good chance of passing since Rep. Tom Murry of Morrisville is a big backer and the House had already approved a separate bill.

“I would expect they will keep the crowdfunding section, no problem, since that was Murry’s bill,” Leslie says.

An expansion for Job Development Investment Grants to make more tax rebates available for corporate relocations and expansions also is likely to advance, Leslie believes.

Here’s what we reported this morning ahead of the Finance Committee meeting:

Morning Update

While most of the media attention is focused on a looming state budget deal, entrepreneurs and investors are also waiting for a crucial House committee vote today that could open the way for crowdfunding in North Carolina.

At 8 a.m., the N.C. House Finance is scheduled to review a big bill that not contains crowdfunding, known as the N.C. JOBS Act, as well as economic development measures, reports WRAL’s Mark Binker.

But the bill is best known as dealing with sales tax caps for counties. That issue alone has made passage problematic.

Notes Binker:  ”Technically, the measure started in the House, although as a much more modest bill. That means the chamber will only be able to vote on whether to accept the Senate bill or reject it and send the measure to a conference committee.”

Last week, the Senate passed the measure 32-16.

 As WRAL’s Matt Burns noted, however, passage in the House is not assured.

“The bill now heads back to the House for a concurrence vote.,” Burns wrote a week ago. “House lawmakers said earlier in the week that the tax provision caught them off guard, so it’s unclear how the legislation will fare in that chamber.”

Binker’s full wrapup can be read online.