Bill
Bill > HB1348
summary
Introduced
01/16/2025
01/16/2025
In Committee
01/16/2025
01/16/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT Relating to employee ownership of licensed cannabis 2 businesses; amending RCW 69.50.331 and 69.50.325; and creating a new 3 section. 4
AI Summary
This bill addresses employee ownership of licensed cannabis businesses by allowing employee stock ownership plans (ESOPs) to own up to 100 percent of a cannabis business, with some important regulatory considerations. The legislature finds that ESOPs can provide meaningful employee benefits, wealth-building opportunities, and improved business performance by enhancing employee engagement and motivation. The bill aims to simplify the regulatory process by revising who is considered a "true party of interest" in a cannabis business owned by an ESOP. Specifically, only corporate officers, directors, or equivalent titles would need to be vetted and named on the cannabis license, while rank-and-file employees participating in the ESOP would not be subject to extensive background checks or licensing requirements. The bill defines an ESOP using federal retirement law terminology and seeks to make cannabis businesses more competitive in talent acquisition by offering employee ownership opportunities similar to those in other industries. By making these changes, the legislature intends to empower employees, foster job satisfaction, and promote long-term stability for cannabis businesses while preserving the Liquor and Cannabis Board's ability to ensure the integrity of cannabis business ownership.
Committee Categories
Business and Industry
Sponsors (9)
David Hackney (D)*,
Andrew Barkis (R),
Chris Corry (R),
Natasha Hill (D),
Sam Low (R),
Greg Nance (D),
Kristine Reeves (D),
Alicia Rule (D),
Kevin Waters (R),
Last Action
Executive session scheduled, but no action was taken in the House Committee on Consumer Protection & Business at 8:00 AM. (on 02/21/2025)
bill text
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://app.leg.wa.gov/billsummary?BillNumber=1348&Year=2025&Initiative=false |
House Bill Analysis 2025 | https://lawfilesext.leg.wa.gov/biennium/2025-26/Pdf/Bill%20Reports/House/1348%20HBA%20CPB%2025.pdf |
BillText | https://lawfilesext.leg.wa.gov/biennium/2025-26/Pdf/Bills/House%20Bills/1348.pdf |
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