Crowdfunding legislation passes House with overwhelming support
Legislation that would simplify business investments passed the full House with unanimous consent Friday morning.
The Kentucky Intrastate Crowdfunding Exemption Act, HB 76, sponsored by Rep. Steve Riggs, creates online crowdfunding investment opportunities in Kentucky. The legislation proposes the creation of an online platform for Kentucky entrepreneurs that will make it easier for people to invest in business ideas that look promising.
Riggs’ bill would allow people to invest up to $10,000 while helping businesses raise up to $2 million. The website Kickstarter is the most widely known effort, but states are beginning to pass crowdfunding bills to localize the approach help small businesses.
The legislation now heads to the Senate to be heard in committee.
House moves their heroin legislation to the Senate
Legislation seeking to tackle the scourge of heroin in the state passed the state House Friday morning with a 98-0 vote after being introduced earlier in the week.
House Bill 213, sponsored by Rep. John Tilley, includes provisions for a tiered level of penalties for heroin traffickers and local options for a program to cut down on the spread of disease.
At the press conference Monday, Tilley said his legislation has more in common with the Senate’s heroin legislation, Senate Bill 5, than it does differences. One big difference between the bills is the addition of a needle exchange, which caused disagreement between lawmakers during the 2014 session.
However, Tilley said he feels the needle exchanges need to be a part of any solution “because they work.”
House Bill 213 now heads to the Senate. The House has also received Senate Bill 5 after the chamber passed the legislation during the first week of session.