Washington, DC - Thursday, April 5, 2012, President Obama signed the Jumpstart Our Business Startups (JOBS) Act into law Thursday. The bipartisan act makes it easier for small companies to raise money from investors and allow them to go public more quickly.
The President spoke before the signing of the bipartisan bill, saying that the bill allows the country's investment laws to move into the twenty-first century.
The House voted last month to send the final version of the bill to President Obama after the Senate added additional restrictions on crowd funding.
The bill passed the United States House of Representatives (H.R. 3606) on March 8, 2012. The U.S. Senate began consideration of the bill on Tuesday, March 20, 2012 and passed an amended version on March 22, that went back to the House for another vote. The amendment made by the Senate altered the crowd funding exception to require intermediaries in a crowd funding offering to be registered with the SEC. President Obama expressed readiness to sign the JOBS Act when passed by both chambers.
The Jumpstart Our Business Startups Act or JOBS Act, is a law intended to encourage funding of United States small businesses by easing various securities regulations. It passed with bipartisan support, and was signed into law by the President of the United States on April 5, 2012. WIKIPEDIA
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