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SB-1425 Complements Arizona's Equity Crowdfunding Law

Posted By Ashley Vizzerra, Arizona Small Business Association, Thursday, February 18, 2016

ARIZONA SMALL BUSINESS ASSOCIATION

FOR IMMEDIATE RELEASE

Thursday, February 18, 2016

 

Contact: Ashley Vizzerra

Communications Coordinator

(602) 306-4000

avizzerra@asba.com

 

 

SB-1425 Complements Arizona’s Equity Crowdfunding Law

 

Phoenix, AZ – The Arizona Small Business Association (ASBA) is spearheading the effort to pass legislation complementing last year’s intrastate crowdfunding legislation.  Currently allowed in 28 other states, the Reg D 504 exemption will allow businesses to raise up to $1 million without going through the Securities Exchange Commission.  This bill differs from the current crowdfunding law in that it will allow for investors beyond Arizona residents to participate.

 

This crowdfunding initiative is an important aspect of Arizona’s economic development as it allows for businesses to fund expansion through non-traditional means, thus creating more jobs.  Sponsored by Senator David Farnsworth, SB-1425 Securities; registration exemptions, would bring opportunity to businesses in Arizona because it allows an infinite number of unaccredited investors to partake in investing, there is no limit to the amount invested, investors do not have to reside in Arizona, offerings can be debt or equity, and all investments can be made tradable so as to provide liquidity to the investors.  Additionally, there is no requirement that the issuer registers securities with the SEC, but simply notifies them and the AZ Corporation Commission of the transaction.    

 

“With the success of the Arizona Crowdfunding Law, this legislation would be right in line with what we are trying to do here for Arizona businesses,” states ASBA CEO, Rick Murray.  “Getting this on the books would help to make Arizona look even more attractive to the underwriting community, thus increasing business being conducted here in our state.”

 

The overall benefit of the bill is that it provides the issuer of the security another choice for assistance in business development that will be extremely simple.  Since the Arizona Crowdfunding Law went live this past July, positive strides are being made to further the economic development of not only businesses in Arizona, but Arizona as a whole.  We can expect to see great progress in business investing should this legislation be passed.  

Tags:  crowdfunding  finance  public policy 

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ASBA is a 2015 Arizona Capitol Times Leader of the Year in Public Policy

Posted By Ashley Vizzerra, Arizona Small Business Association, Thursday, September 17, 2015

ARIZONA SMALL BUSINESS ASSOCIATION

FOR IMMEDIATE RELEASE

Thursday, September 17, 2015

 

Contact: Ashley Vizzerra

Communications Coordinator

(602) 203-4000

avizzerra@asba.com

 

ASBA is a 2015 Arizona Capitol Times Leader of the Year in Public Policy Awards Recipient

Arizona Capitol Times will honor 21 individuals and organizations on Wednesday, September 30 at its 9th annual Leaders of the Year in Public Policy awards event.  The Arizona Small Business Association (ASBA) is proud to be amongst the twenty-one public and private individuals and entities recognized for various accomplishments.

“Leaders of the Year shines a light on the individuals and organizations who have a positive impact on public policy across Arizona,” said Ginger Lamb, vice president and publisher of Arizona News Service and Arizona Capitol Times. “The awards were created back in 2007 for us to give back to the community and salute their efforts. Plus, it is the only event of its kind in our state to honor leadership and excellence in public policy.”

“We are very honored to be recognized by the Capitol Times,” says Rick Murray, ASBA CEO.  “As THE statewide resource for small business in Arizona, the award for Economic Development certainly fits into our mission of helping Arizona businesses create jobs and prosper.  We owe great thanks to our members and the small business community for their continuous support in the Arizona Small Business Association.”

A selection committee comprised of leaders from the Capitol community and Lamb chose the recipients in the categories of arts and humanities, associations, business, economic development, education, environment, government, health care, legislative, non-profit, public safety social services, technology, transportation, unsung hero, up and comer, volunteerism, and lifetime achievement. One elected official was also selected by the editors of Arizona News Service & Arizona Capitol Times to receive the Open Government Award for upholding issues fundamental to the media including First Amendment issues, transparency and public access.

 

 

 

 

The 2015 honorees are:


Arts & Humanities
Senator Bob and Mrs. Christi Worsley

Association
Arizona Craft Brewers Guild
Beer & Wine Distributors of Arizona

Business
Apple

Economic Development
Arizona Small Business Association “Crowdfunding Legislation”

Education
American Federation for Children

Environment
Henry R. Darwin

Government
Wendy Baldo, Senate Chief of Staff

Healthcare
Banner Alzheimer’s Foundation

Legislative
Senator Steve Yarbrough

Lifetime Achievement
J. Elliott Hibbs

Non-profit
Project CENTRL

Open Government
Rep. Kate Brophy McGee

Public Safety
Joe Hart, Arizona Mine Inspector – “Stay Out Stay Alive” campaign

Technology
TechShop

Transportation
Arizona Department of Transportation
Bill Mackey of Granite

Unsung Hero
Sam Polito

Up & Comer
Senator Carlyle Begay

Volunteerism
Gabriel’s Angels

Social Services
Charles Shipman, State Refugee Coordinator


Tickets for the event are $85 each or $900 for a table of ten or $1,500 for a VIP table. For details or to purchase tickets, call Alison Marciniak at 602-889-7120, email alison.marciniak@azcapitoltimes.com or visit https://store.azcapitoltimes.com/event-tickets.html

 

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Tags:  crowdfunding  public policy  small business 

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