Well, crowdfunding in North Carolina isn’t dead after all. The House late Friday afternoon voted to review a bill on Monday that includes the NC JOBS act, reports WRAL’s Mark Binker.
“House just voted against taking up the econ development bill today,” tells The Skinny via email.
“Things are in a bit of a tizzy.”
After a day of back-and-forth the key bill (House Bill 1224) was given new life with the House review. It also contains economic development legislation.
Earlier, the House voted by a narrow margin to reject a larger bill that included a “fix” for Teacher Assistant funding.
“Motion to add H1224 to today’s House calendar fails, 44-46,” Binker tweeted. “We’re here Monday. … So, that was a mutiny.”
The House and Senate are bitterly divided over several issues. Caught in the crossfire is crowdfunding, which already passed the House by a huge margin.
So now entrepreneurs and investors have to wait another 48 hours to see if crowdfunding will happen. Their fingers are crossed.
Here’s what we reported earlier today:
The House and the Senate are still feuding in Raleigh but there could be a chance of compromise when it comes to proposed crowdfunding and related economic development efforts, reports WRAL’s Mark Binker.
“Basically, it doesn’t sound like the House can pass it,” Binker reports via email, referring to a big bill packaging the NC JOBS Act (crowdfunding) along with other hot-button issues.
“They’re brewing up another measure that would have some of that stuff in it,” Binker adds.
But he’s “unsure if that will fly with the Senate.”
As we reported earlier today, the legislative process is a tangled story, to say the least.
Binker reports that the House and Senate are going to drag into the afternoon.”
There has been action with a regulatory reform and an omnibus crime bill passing in the Senate and House respectively.
“House Rules [committee] is going to take up a bill that would be a ‘clean TA [teacher assistant] funding fix,’ he adds. That is “a sign that the House doesn’t want to take the Senate deal that’s shackled to the economic development measures in H 1224.”
But the story doesn’t end there.
“And it sounds like the House is about to cook up another economic development bill to try and replace H 1224,” Binker says. “That bill number to watch for is the infamous SB [Senate Bill] 3.”
As I wrote earlier today: Egad!
Or as one reader said via email: “Yikes!”