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WA HB1940
Bill
Status
Introduced
2/11/2025
Primary Sponsor
Melanie Morgan
Click for details
AI Summary
- Eliminates the state residency requirement for cannabis licensees, allowing out-of-state investors to participate in Washington's cannabis industry; entities must still be formed under Washington state law
- Grants a 5-year business and occupations (B&O) tax exemption to cannabis producers, processors, and retailers licensed through the cannabis social equity program under RCW 69.50.335, beginning after the licensee exceeds $5,000 in sales revenues
- Authorizes the Liquor and Cannabis Board to impose additional licensing fees to cover costs of investigating nonresident applicants and to deny licenses if unable to complete adequate background investigations
- Maintains existing license fees ($250 application fee, $1,381 annual renewal fee) for producer, processor, and retailer licenses with no changes to fee amounts
- Tax exemption provision expires July 1, 2038
Legislative Description
Concerning the cannabis industry.
Last Action
By resolution, reintroduced and retained in present status.
1/12/2026
Committee Referrals
Finance2/21/2025
Consumer Protection & Business2/11/2025
Full Bill Text
No bill text available