The bill aims to address oversupply issues in Washington's cannabis market by suspending inactive cannabis producer licenses until a federal or interstate cannabis marketplace is established. It introduces a new section that mandates the suspension of a cannabis producer's license if no activity has been recorded between July 1, 2023, and December 31, 2024. The license can be reissued when federal law permits interstate cannabis transfers or when the U.S. Department of Justice issues guidance allowing such transfers. This measure is intended to promote market stability and ensure that the regulatory framework supports economic growth while maintaining high standards.

Additionally, the bill amends RCW 69.50.331 to enhance the board's authority regarding the evaluation and renewal of cannabis licenses. It specifies that the board must conduct comprehensive evaluations of applications and allows for the suspension or cancellation of licenses under certain conditions. The amendments also clarify the process for handling objections from local authorities regarding license applications and renewals, ensuring that community concerns are considered. Furthermore, the bill encourages cannabis licensees to submit social equity plans, offering a reimbursement for the annual license renewal fee upon confirmation of submission.

Statutes affected:
Original Bill: 69.50.331