A measure that would allow Maine businesses to sell equity as a means to raising start-up capital received broad support during a public hearing in front of the legislature’s Insurance and Financial Affairs committee Wednesday, according to a legislative press release.

The measure, “An Act To Increase Funding for Start-ups,” is sponsored by Senate President Justin Alfond, D-Portland, and seeks to remove existing barriers to “crowd funding” while maintaining Maine’s strong consumer and investor protection laws.

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