Legislation to permit crowdfunding in North Carolina is on its way to Gov. Pat McCrory.
WRAL.com’s Mark Binker tells WTW that the state’s General Assembly on Tuesday gave final approval to the “Providing Access to Capital for Entrepreneurs and Small Business or PACES Act” and sent it on to the governor, who is expected to sign it.
So the legislative “ball” has been moved to first-and-goal after getting to the “two yard line” (as investor Mark Easley described it) on Monday after a a unanimous 114-0 House vote.
Final Senate and House approval came after a couple of non-related funding amendments were attached.
If the bill pass, credit has to go to its lead proponents in the House and Senate who decided two weeks ago to break crowdfunding out of a larger economic development package.
Crowdfunding has received strong bi-partisan support in the past yet failed to get to the goal line.
McCrory’s signature will make it a “touchdown.”
Backers believe the winners will be N.C. startups, who could gain more capital, and to non-accredited (read as: you-and-me, the non-1 percenters) investors who want to take a crack at backing new ventures.
(See the links with this post that recap the crowdfunding bill’s advance.)