WA SB5456

Removes the Washington state residency requirement for investors in cannabis businesses, allowing out-of-state angel investment, venture capital, and equity investment while maintaining transparency requirements for qualified investors

Modifies ownership disclosure rules so that only natural persons holding more than 10% ownership interest must qualify for and be named on a cannabis license; those with 1-10% ownership must be disclosed but need not qualify

Requires the Liquor and Cannabis Board to suspend cannabis producer licenses that showed no business activity between July 1, 2023, and December 31, 2024, with reissuance triggered when federal law or DOJ guidance permits interstate cannabis transfers

Authorizes additional licensing fees to cover costs of investigating nonresident applicants required to be investigated under the licensing provisions

Takes effect January 1, 2026