California Local Economies Securities Act

The Sustainable Economies Law Center has worked to pass legislation to make it easier for small businesses, cooperatives, farms, and renewable energy projects to raise money from local investors and to enable California residents to move their money from Wall Street to their local community.


AB 2751 stalled in the legislature in 2016. We faced numerous obstacles to passing the bill, including a lack of understanding about securities law  and about small businesses' financing needs among lawmakers. After debriefing the situation with our allies in the campaign, we decided not to pursue another bill around local investing in 2017 because we predicted that we would face the same obstacles. We are shifting gears to instead provide more direct legal support to small business and organizations in utilizing existing community capital legal strategies available now, and to educating investors more on possibilities for local investing under our current regulatory landscape. We are open to working on future legislation to make local investing even more prevalent, but we have no immediate plans to do so. Read more about the work we are doing to help make more local investing happen in California on our Grassroots Finance program page here.

Learn more about the Local Economies Securities Act:

Click here to read a summary of the bill, background info, FAQs, and more.

Sign up below to stay up to date on the latest developments around local investing legislation in California and our other work around local investing.

We'll send out emails only when there are important developments with legislation that we are working on or supporting related to breaking down barriers to local investing, including opportunities to get involved, and resources for investors and businesses alike related to local investing. Giving us your mailing address will help us know to contact you if your Assemblymember or Senator sits on an important committee related to any such legislation. We won't send you junk mail, in fact, we rarely send paper mail at all!


Please email if you want to get more involved in advocating for local investing legislation or if you have questions or feedback about the legislation.

63 sign up s

Will you sign?

Showing 57 reactions

  • Debbie Mytels
    signed 2015-10-16 16:20:51 -0700
  • Oscar Grande
    signed 2015-10-16 09:11:24 -0700
  • Raines Cohen
    signed 2015-10-08 14:07:13 -0700
    Cohousing California & East Bay Cohousing support this – but let’s make sure that it actually helps communities on our scale (vs. co-op housing initiatives of a couple years ago that fall short of what’s needed)
  • jill jacobs
    signed 2015-06-23 16:05:56 -0700
  • Mathew Forth
    signed 2015-06-17 15:20:23 -0700
  • Brian Ross
    signed 2015-05-16 16:49:56 -0700
    I would like to add public infrastructure projects developed though Public-Private Partnerships to the types of ventures included in this bill.
  • Muriel Strand
    signed 2015-05-13 10:43:04 -0700
  • Catherine Butler
    signed 2015-05-06 10:04:59 -0700
  • taylor grabowski
    signed 2015-05-04 11:15:40 -0700
  • Erin Kilmer-Neel
    signed 2015-04-27 23:54:10 -0700
  • Nikhil Vijaykar
    signed 2015-04-16 10:39:19 -0700
  • George Berven
    signed 2015-04-13 15:10:35 -0700
  • Dana Frasz
    signed 2015-03-24 09:39:10 -0700
  • Tyler Sullivan
    signed 2015-03-21 14:50:50 -0700
  • Ricardo Nunez
    signed 2015-03-18 19:16:00 -0700
  • jenny shore
    signed 2015-03-17 21:55:12 -0700
  • Ross Heckmann
    posted about this on Facebook 2015-03-14 16:34:34 -0700
    Sign the petition: California Local Economies Securities Act
  • Ross Heckmann
    signed 2015-03-14 16:34:22 -0700
  • Liane Salgado
    signed 2015-03-12 17:08:30 -0700
  • Tia Katrina Taruc-Myers
    signed 2015-03-12 15:07:21 -0700
  • Thomas Atwood
    signed 2015-03-12 13:15:41 -0700
  • Kenneth Ruby
    signed 2015-03-12 13:06:41 -0700
  • Niklas Lollo
    signed 2015-03-12 12:50:50 -0700
  • William Michael Cunningham
    signed 2015-03-09 05:47:41 -0700
    See: The JOBS Act: Crowdfunding for Small Businesses and Startups
  • Danny Spitzberg
    signed 2015-03-05 19:11:55 -0800
  • Paul Spinrad
    signed 2015-03-03 16:06:35 -0800
  • Christina Oatfield
    signed 2015-03-01 12:45:59 -0800

Thanks to our Partners and Collaborators: