Intrastate Crowdfunding for the Future: A Legislative Recommendation for Idaho

Abstract

This article recommends intrastate crowdfunding legislation tailored to the state of Idaho. There is a federal crowdfunding exemption from registration, and many states have enacted intrastate crowdfunding exemptions. The state of Idaho has taken a different approach—utilizing an exemptive order process whereby intrastate crowdfunding exemptions are granted on a case-by-case basis. Idaho is a rapidly growing state both in terms of population and business expansion, and this article argues that the state should accommodate this increase in potential players with legislation of its own. Drawing from the policy considerations underlying securities offering regulation as implicated in the state of Idaho and the approaches taken by Idaho’s neighboring states of Montana, Oregon, Washington, and Utah, this article recommends new legislation for Idaho’s future.