WA HB1348

Employee stock ownership plans (ESOPs) may own up to 100% of stock in licensed cannabis businesses in Washington state

Corporate officers and directors of ESOP-owned cannabis businesses must be vetted and named on the license, but rank-and-file employees participating in the ESOP are exempt from background checks, financial disclosure, and residency requirements

ESOP trustees and plan administrators are not considered "true parties of interest" under Liquor and Cannabis Board rules unless they also hold a corporate officer/director position

Amends RCW 69.50.331 and 69.50.325 to clarify licensing procedures for ESOP-owned cannabis producers, processors, and retailers

Builds on the 2023 Expanding Employee Ownership Act, which provided incentives for ESOP creation across Washington businesses