Analysis Complete for Senate Bill 5409

You are receiving this email as a subscriber to the Initiative 960 email list. RCW 43.135.031 (I-960) requires that notices be sent each time a bill that raises taxes or fees is: introduced in either house; scheduled for a public hearing; approved by any legislative committee; or passed by either house of the Legislature.

Please note: This email message was sent from a notification-only address. Please do not reply to this message.

SB 5409, titled AN ACT Relating to the ability of business and nonprofit entities to obtain a marijuana license, 10 year analysis is complete.

The Office of Financial Management has identified this bill as requiring a ten-year projection of increased cost to the taxpayers or affected fee payers.

Ten-year projection:

This bill would allow a "natural person" to hold more than 10% interest in a marijuana license, as long as they possess the same qualifications as the licensee, with the exception of the in-state residency requirement.

The Board may charge additional licensing fees to recover additional costs incurred in investigating nonresidents associated with a marijuana license application or renewal, but it is unknown what, if any fees, the Board would charge, so the cash receipt impact is indeterminate.