Notice of Completion: The 10 Year Analysis for House Bill 1855 is Complete

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UPDATE: The 10 year analysis for HB 1855, titled AN ACT Relating to continuing the development of the cannabis market by enacting provisions specific to a craft cannabis endorsement, has been completed. 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:

Liquor and Cannabis Board:

Section (1)(1a) establishes a craft cannabis endorsement available to qualified cannabis producers and processors. Requires the Washington State Liquor and Cannabis Board ("Board") to set the fee amount for the endorsement, provided the fee may not exceed $500 per year.  It is unknown what the amount the Board will determine for the fee, so the cash receipt impact from endorsement fees is indeterminate.

However, for illustrative purposes, the Board assumes that 801 producers (75% of 1,068) may qualify for and receive the endorsement, with half of the applications received in the first year and the remaining half in the second year.  If it is assumed that the Board sets the fee at $500 per year, the cash receipts impact to the Dedicated Marijuana Account could be as follows:

FY23: $500 x 400 = $200,000

FY24+: $500 x 801 = $400,500

Ten-year projection prepared in consultation with the following agencies:

Liquor and Cannabis Board


Bill sponsors and contact information:

Representative Emily Wicks, Prime Sponsor
Democrat
(425) 903-8186
WICKS_EM@leg.wa.gov

Representative Laurie Dolan
Democrat
(360) 786-7940
Laurie.Dolan@leg.wa.gov

Representative Nicole Macri
Democrat
(206) 333-4228
nicole.macri@leg.wa.gov

Representative Jessica Bateman
Democrat
(360) 545-9513
jessica.bateman@leg.wa.gov

Representative Kirsten Harris-Talley
Democrat
(206) 971-1222
Kirsten.Harris-Talley@leg.wa.gov




Legislative Bill Information Website: http://apps.leg.wa.gov/billinfo/

Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp