OLYMPIA — The state Senate unanimously passed legislation sponsored by Rep. Brandon Vick that would increase access to capital for small businesses and startup companies.
Vick says House Bill 1593 will improve Washington’s crowdfunding laws.
“We continue to streamline the crowdfunding laws we passed a few years ago to improve job creation and investment opportunities. It is a great tool to get businesses started or launch new products,” said Vick (R-Felida). “We have many counties in our state that are eager for economic growth. By providing more access to capital, I am hopeful this will benefit those regions in the long-run by bringing more businesses and jobs to those areas. Clark County is always looking to expand its economic development opportunities.”
Vick said the legislation is the culmination of work sessions by the House Business and Financial Services Committee and consultation with investors and business owners.
During the public hearings, the Association of Washington Business, National Federation of Independent Business, and the state Department of Financial Institutions all testified in favor of the bill.
House Bill 1593 now heads to the governor’s desk for his signature.