MADISON, Wis. (AP) -- A proposal that would allow investors to purchase stock and equity in a Wisconsin business online using the crowdfunding model is finding broad support in the Legislature.
No one has registered to lobby against the measure that's up for a hearing Thursday before a state Assembly committee. Supporters include Wisconsin bankers, independent businesses, and the state chamber of commerce.
The Republican-sponsored measure adopts the approach used by popular Internet crowdfunding sites like Kickstarter and Indiegogo. But instead of soliciting donations only, the public could invest in a company and have a financial stake in its future.
Wisconsin would be one of the first states in the country to adopt such a law should it pass the Legislature and be signed by Gov. Scott Walker.