Three House Republicans wasted no time in trying to get crowdfunding for startups passed in North Carolina, introducing a bill at the General Assembly on Wednesday.

It’s titled the “Start-Ups Act/New Markets Tax Credit.”

Investors and entrepreneurs are hopeful that crowdfunding legislation will encourage more people to invest in startups.

The text of the bill can be read at:

Gov. Pat McCrory and Comnmerce Secretary John Skvarla support a crowdfunding bill.

Reps. Brian Brown of Pitt County, Rob Bryan of Mecklenburg County and John Szoka of Cumberland County filed the bill. Brown and Bryan are the primary sponsors. 

A crowdfunding bill passed in the N.C. Senate in 2014 with bipartisan support but failed in the House when it was incorporated into a larger economic incentive bill that was defeated.