H-0459.1
HOUSE BILL 1348
State of Washington
69th Legislature
2025 Regular Session
By Representatives Hackney, Waters, Reeves, Low, Corry, Rule, Barkis, Hill, and Nance
Read first time 01/16/25. Referred to Committee on Consumer Protection & Business.
AN ACT Relating to employee ownership of licensed cannabis businesses; amending RCW 69.50.331 and 69.50.325 ; and creating a new section.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. (1) The legislature finds that employee stock ownership plans offer a meaningful employee benefit in a variety of industries and could similarly be offered to cannabis employees. The legislature further finds that the legislature unanimously enacted the expanding employee ownership act in 2023 to provide incentives for creation of employee stock ownership plans in businesses in Washington. In addition to competitive salaries and comprehensive benefits, companies with employee stock ownership plans provide employees with unique wealth-building opportunities. This ensures that employees not only share in the success of the company but also have a pathway to financial security and prosperity. Employee stock ownership plans make employees feel more a part of the success of the business and motivate performance.
(2) The legislature further finds that employee stock ownership plans also benefit companies. They serve as catalysts for enhanced employee engagement, paving the way for heightened productivity, innovation, and retention, all of which are vital for fostering superior business performance and sustainable growth. Allowing employee stock ownership plans to be the partial or 100 percent owners of cannabis businesses, will allow these businesses to compete for talent in the workforce that may have a path to participation in an employee stock ownership plan in other industries.