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Bill would allow crowd-funding for Wisconsin small businesses

MADISON, WI (WTAQ) - There's a crowd of people who favor crowd-funding in Wisconsin. 

That's the practice of letting small businesses sell stock online to potential investors.

The Assembly Financial Institutions Committee will hold a public hearing Thursday morning on a bill to allow a business to get up to $2 million in crowd-funding. 

The measure allows people to donate money online at sites like Kickstarter -- and it lets the public invest in small firms and have financial stakes in their futures. 

No one has registered to lobby against the bill. It does have a lot of business support from groups like the Wisconsin Manufacturers and Commerce, independent businesses, and state bankers. 

One supporter recently said only two other states have passed laws that allow crowd-funding. 

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