By Sonoran News
Representative Jeff Weninger and Senator David Farnsworth have introduced HB 2591 AND SB 1450 to allow crowdfunding in Arizona.
Crowdfunding allows individuals to finance a project or venture by raising money from a large number of people.
The bill, if passed would allow donors to become equity stakeholders in your project or company, and allow for $10,000 per person and unlimited for qualified investors per offering.
One million per offering can be raised for companies or they can raise $2.5 million if they submit audited financials.
“If this passes in Arizona it could open up a way for many entrepreneurs to start their own businesses, said Representative Jeff Weninger. “Maybe you know someone who is developing the next innovative idea in technology, or maybe you have a friend down the street who wants to open a coffee shop. With this bill their dreams could be a reality.”
