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.

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

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Will you sign?

Showing 46 reactions

  • Stann Whipple
    signed 2017-03-06 16:09:25 -0800
  • Kent Glenzer
    signed 2017-03-03 08:31:37 -0800
  • Shannon Wilhite
    signed 2016-11-29 23:38:35 -0800
  • Michelle Greenwood
    signed 2016-10-11 07:49:31 -0700
  • mai ishikawa sutton
    signed 2016-04-27 11:39:12 -0700
  • David Lingren
    signed 2016-04-08 14:43:03 -0700
  • Jim Lutz
    signed 2016-04-01 18:21:17 -0700
  • Brian Hicks
    signed 2016-03-28 20:18:26 -0700
  • Shiva Patel
    signed 2016-03-25 14:07:40 -0700
  • Peter Ruddock
    signed 2016-03-04 07:15:51 -0800
  • Hank Herrera
    signed 2016-03-01 08:21:32 -0800
  • Adrionna Fike
    posted about this on Facebook 2016-02-25 20:24:20 -0800
    Sign the petition: California Local Economies Securities Act
  • Adrionna Fike
    signed 2016-02-25 20:22:09 -0800
  • John Pomeroy
    signed 2016-02-25 18:00:07 -0800
  • Arno Hesse
    signed 2016-02-25 14:10:11 -0800
  • michael closson
    signed 2016-02-03 21:13:36 -0800
  • Larry Sheehy
    signed 2016-01-29 19:40:59 -0800
  • Ross Heckmann
    @RossHeckmann tweeted link to this page. 2016-01-29 17:34:16 -0800
    Sign the petition: California Local Economies Securities Act
  • Brett Heeger
    signed 2016-01-29 11:54:17 -0800
  • chris tittle
    signed 2016-01-15 15:26:29 -0800
  • Nicole Costen
    signed 2016-01-04 13:41:24 -0800
  • Bruce Kunkel
    posted about this on Facebook 2015-10-19 21:59:50 -0700
    Sign the petition: California Local Economies Securities Act
  • Bruce Kunkel
    @bkunkel3 tweeted link to this page. 2015-10-19 21:59:47 -0700
    Sign the petition: California Local Economies Securities Act
  • Bruce Kunkel
    signed 2015-10-19 21:59:08 -0700
  • Debbie Mytels
    posted about this on Facebook 2015-10-16 16:22:52 -0700
    Sign the petition: California Local Economies Securities Act
  • 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

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