- Posted March 11, 2014
- Tweet This | Share on Facebook
Michigan bill allows local stock exchanges
LANSING (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.
Published: Tue, Mar 11, 2014
headlines Oakland County
headlines National
- The business of successfully running an in-house department
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Justice Gorsuch writes children’s book about ‘Heroes of 1776’
- Companies use ‘deceitful tactics’ to market harmful ultra-processed products with ‘addictive nature,’ city’s suit alleges
- Lawyer accused of trying to poison her husband
- ‘Lawyers Gone Wild’? Filmmaker criticizes bar as he seeks ethics probe of serial killer’s daughter for alleged lie
