{"id":2421,"date":"2013-10-23T14:17:30","date_gmt":"2013-10-23T18:17:30","guid":{"rendered":"http:\/\/blogs.mml.org\/wp\/inside208\/?p=2421"},"modified":"2013-10-23T14:17:30","modified_gmt":"2013-10-23T18:17:30","slug":"crowdfunding-legislation-moves-out-of-house-commerce-committee","status":"publish","type":"post","link":"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/","title":{"rendered":"Crowdfunding Legislation Moves Out of House Commerce Committee"},"content":{"rendered":"

Today the House Commerce Committee passed HB 4996<\/a>, the crowdfunding<\/a>\u00a0legislation on a 17-1 vote.\u00a0 This legislation now moves to the house floor.<\/p>\n

HB 4996, a creative approach to economic development, will allow the sales of securities to an unlimited number of non-accredited investors, provided the issuer registers with the State of Michigan.\u00a0 Any Michiganders who do not fit the federal definition of an accredited investor are given the opportunity to support their local entrepreneurs, existing small businesses, and real estate investments.<\/p>\n

The city of Adrian has passed a resolution in support of HB 4996.\u00a0 If you are interested in doing something similar, here is a copy of that resolution:\u00a0crowdfundingresolution<\/a>.<\/p>\n

A big thank you to Rep. Jenkins and staff, the city of Adrian, and all those involved in working so diligently on this and putting forth a product that can be a positive economic driver for the state of Michigan.<\/p>\n

Nikki Brown is a legislative associate for the League.\u00a0 She can be reached at nbrown@mml.org or 517-908-0305.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Today the House Commerce Committee passed HB 4996, the crowdfunding\u00a0legislation on a 17-1 vote.\u00a0 This legislation now moves to the house floor. HB 4996, a creative approach to economic development, will allow the sales of securities to an unlimited number of non-accredited investors, provided the issuer registers with the State […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[10,22],"tags":[],"class_list":["post-2421","post","type-post","status-publish","format-standard","hentry","category-economic-development","category-legislative-link-articles","mml-onemagnify-plugin"],"acf":[],"yoast_head":"\nCrowdfunding Legislation Moves Out of House Commerce Committee - Inside 208<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crowdfunding Legislation Moves Out of House Commerce Committee - Inside 208\" \/>\n<meta property=\"og:description\" content=\"Today the House Commerce Committee passed HB 4996, the crowdfunding\u00a0legislation on a 17-1 vote.\u00a0 This legislation now moves to the house floor. HB 4996, a creative approach to economic development, will allow the sales of securities to an unlimited number of non-accredited investors, provided the issuer registers with the State [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/\" \/>\n<meta property=\"og:site_name\" content=\"Inside 208\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/MMLeague\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-23T18:17:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mml.org\/inside208\/wp-content\/uploads\/sites\/3\/2025\/10\/Inside-208-Site-Image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Dene Westbrook\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@MMLeague\" \/>\n<meta name=\"twitter:site\" content=\"@MMLeague\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dene Westbrook\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/2013\\\/10\\\/23\\\/crowdfunding-legislation-moves-out-of-house-commerce-committee\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/2013\\\/10\\\/23\\\/crowdfunding-legislation-moves-out-of-house-commerce-committee\\\/\"},\"author\":{\"name\":\"Dene Westbrook\",\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/#\\\/schema\\\/person\\\/15aed4510ea6fe39f324094edb06c88c\"},\"headline\":\"Crowdfunding Legislation Moves Out of House Commerce Committee\",\"datePublished\":\"2013-10-23T18:17:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/2013\\\/10\\\/23\\\/crowdfunding-legislation-moves-out-of-house-commerce-committee\\\/\"},\"wordCount\":176,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/#organization\"},\"articleSection\":[\"Economic Development\",\"Legislative Link Articles\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/mml.org\\\/inside208\\\/2013\\\/10\\\/23\\\/crowdfunding-legislation-moves-out-of-house-commerce-committee\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/2013\\\/10\\\/23\\\/crowdfunding-legislation-moves-out-of-house-commerce-committee\\\/\",\"url\":\"https:\\\/\\\/mml.org\\\/inside208\\\/2013\\\/10\\\/23\\\/crowdfunding-legislation-moves-out-of-house-commerce-committee\\\/\",\"name\":\"Crowdfunding Legislation Moves Out of House Commerce Committee - Inside 208\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/#website\"},\"datePublished\":\"2013-10-23T18:17:30+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/2013\\\/10\\\/23\\\/crowdfunding-legislation-moves-out-of-house-commerce-committee\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/mml.org\\\/inside208\\\/2013\\\/10\\\/23\\\/crowdfunding-legislation-moves-out-of-house-commerce-committee\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/2013\\\/10\\\/23\\\/crowdfunding-legislation-moves-out-of-house-commerce-committee\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/mml.org\\\/inside208\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crowdfunding Legislation Moves Out of House Commerce Committee\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/#website\",\"url\":\"https:\\\/\\\/mml.org\\\/inside208\\\/\",\"name\":\"Michigan Municipal League - Inside 208\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/mml.org\\\/inside208\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/#organization\",\"name\":\"Michigan Municipal League\",\"url\":\"https:\\\/\\\/mml.org\\\/inside208\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/mml.org\\\/inside208\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2023\\\/01\\\/mml-logo-square-e1673462978850.jpg\",\"contentUrl\":\"https:\\\/\\\/mml.org\\\/inside208\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2023\\\/01\\\/mml-logo-square-e1673462978850.jpg\",\"width\":600,\"height\":303,\"caption\":\"Michigan Municipal League\"},\"image\":{\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/facebook.com\\\/MMLeague\",\"https:\\\/\\\/x.com\\\/MMLeague\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/mmleague\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/mml.org\\\/inside208\\\/#\\\/schema\\\/person\\\/15aed4510ea6fe39f324094edb06c88c\",\"name\":\"Dene Westbrook\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d4721eb8effd8cf177fa62c157e667f61896ad872ae6a223a223ce1b260d8b8d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d4721eb8effd8cf177fa62c157e667f61896ad872ae6a223a223ce1b260d8b8d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d4721eb8effd8cf177fa62c157e667f61896ad872ae6a223a223ce1b260d8b8d?s=96&d=mm&r=g\",\"caption\":\"Dene Westbrook\"},\"sameAs\":[\"https:\\\/\\\/mml.org\"],\"url\":\"https:\\\/\\\/mml.org\\\/inside208\\\/author\\\/mmldev1\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Crowdfunding Legislation Moves Out of House Commerce Committee - Inside 208","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/","og_locale":"en_US","og_type":"article","og_title":"Crowdfunding Legislation Moves Out of House Commerce Committee - Inside 208","og_description":"Today the House Commerce Committee passed HB 4996, the crowdfunding\u00a0legislation on a 17-1 vote.\u00a0 This legislation now moves to the house floor. HB 4996, a creative approach to economic development, will allow the sales of securities to an unlimited number of non-accredited investors, provided the issuer registers with the State [...]","og_url":"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/","og_site_name":"Inside 208","article_publisher":"https:\/\/facebook.com\/MMLeague","article_published_time":"2013-10-23T18:17:30+00:00","og_image":[{"width":1200,"height":675,"url":"https:\/\/mml.org\/inside208\/wp-content\/uploads\/sites\/3\/2025\/10\/Inside-208-Site-Image.png","type":"image\/png"}],"author":"Dene Westbrook","twitter_card":"summary_large_image","twitter_creator":"@MMLeague","twitter_site":"@MMLeague","twitter_misc":{"Written by":"Dene Westbrook","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/#article","isPartOf":{"@id":"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/"},"author":{"name":"Dene Westbrook","@id":"https:\/\/mml.org\/inside208\/#\/schema\/person\/15aed4510ea6fe39f324094edb06c88c"},"headline":"Crowdfunding Legislation Moves Out of House Commerce Committee","datePublished":"2013-10-23T18:17:30+00:00","mainEntityOfPage":{"@id":"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/"},"wordCount":176,"commentCount":0,"publisher":{"@id":"https:\/\/mml.org\/inside208\/#organization"},"articleSection":["Economic Development","Legislative Link Articles"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/","url":"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/","name":"Crowdfunding Legislation Moves Out of House Commerce Committee - Inside 208","isPartOf":{"@id":"https:\/\/mml.org\/inside208\/#website"},"datePublished":"2013-10-23T18:17:30+00:00","breadcrumb":{"@id":"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/mml.org\/inside208\/2013\/10\/23\/crowdfunding-legislation-moves-out-of-house-commerce-committee\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mml.org\/inside208\/"},{"@type":"ListItem","position":2,"name":"Crowdfunding Legislation Moves Out of House Commerce Committee"}]},{"@type":"WebSite","@id":"https:\/\/mml.org\/inside208\/#website","url":"https:\/\/mml.org\/inside208\/","name":"Michigan Municipal League - Inside 208","description":"","publisher":{"@id":"https:\/\/mml.org\/inside208\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mml.org\/inside208\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/mml.org\/inside208\/#organization","name":"Michigan Municipal League","url":"https:\/\/mml.org\/inside208\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mml.org\/inside208\/#\/schema\/logo\/image\/","url":"https:\/\/mml.org\/inside208\/wp-content\/uploads\/sites\/3\/2023\/01\/mml-logo-square-e1673462978850.jpg","contentUrl":"https:\/\/mml.org\/inside208\/wp-content\/uploads\/sites\/3\/2023\/01\/mml-logo-square-e1673462978850.jpg","width":600,"height":303,"caption":"Michigan Municipal League"},"image":{"@id":"https:\/\/mml.org\/inside208\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/facebook.com\/MMLeague","https:\/\/x.com\/MMLeague","https:\/\/www.linkedin.com\/company\/mmleague\/"]},{"@type":"Person","@id":"https:\/\/mml.org\/inside208\/#\/schema\/person\/15aed4510ea6fe39f324094edb06c88c","name":"Dene Westbrook","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/d4721eb8effd8cf177fa62c157e667f61896ad872ae6a223a223ce1b260d8b8d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d4721eb8effd8cf177fa62c157e667f61896ad872ae6a223a223ce1b260d8b8d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d4721eb8effd8cf177fa62c157e667f61896ad872ae6a223a223ce1b260d8b8d?s=96&d=mm&r=g","caption":"Dene Westbrook"},"sameAs":["https:\/\/mml.org"],"url":"https:\/\/mml.org\/inside208\/author\/mmldev1\/"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mml.org\/inside208\/wp-json\/wp\/v2\/posts\/2421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mml.org\/inside208\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mml.org\/inside208\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mml.org\/inside208\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mml.org\/inside208\/wp-json\/wp\/v2\/comments?post=2421"}],"version-history":[{"count":0,"href":"https:\/\/mml.org\/inside208\/wp-json\/wp\/v2\/posts\/2421\/revisions"}],"wp:attachment":[{"href":"https:\/\/mml.org\/inside208\/wp-json\/wp\/v2\/media?parent=2421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mml.org\/inside208\/wp-json\/wp\/v2\/categories?post=2421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mml.org\/inside208\/wp-json\/wp\/v2\/tags?post=2421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}