LANSING, Mich. (AP) — Michigan cities are getting behind
legislation to create local stock exchanges allowing residents to invest
in smaller businesses.
The bill sponsored by Republican Rep.
Nancy Jenkins of Clayton is designed to complement a "crowdfunding" law
Gov. Rick Snyder signed in January. Crowdfunding websites let people
raise money from donors for projects.
The Michigan Municipal
League says legislators have a chance to help make communities more
prosperous and send a message that Michigan is pro-business to
entrepreneurs.
The legislation is designed to help smaller
companies not big enough to qualify for larger exchanges like the New
York Stock Exchange.
Jenkins says her bill lets people "invest in Main Street rather than Wall Street" and has the
potential to boost local pride.
___
Online:
House Bill 5273: http://1.usa.gov/NI796m
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
LANSING, Mich. (AP) — Michigan cities are getting behind
legislation to create local stock exchanges allowing residents to invest
in smaller businesses.
The bill sponsored by Republican Rep.
Nancy Jenkins of Clayton is designed to complement a "crowdfunding" law
Gov. Rick Snyder signed in January. Crowdfunding websites let people
raise money from donors for projects.
The Michigan Municipal
League says legislators have a chance to help make communities more
prosperous and send a message that Michigan is pro-business to
entrepreneurs.
The legislation is designed to help smaller
companies not big enough to qualify for larger exchanges like the New
York Stock Exchange.
Jenkins says her bill lets people "invest in Main Street rather than Wall Street" and has the
potential to boost local pride.
___
Online:
House Bill 5273: http://1.usa.gov/NI796m
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.