The bill amends RCW 69.50.325 to impose new limitations on financial interest agreements for licensed cannabis retailers in Washington State. Specifically, it restricts an individual retail licensee and all associated persons or entities from holding more than five retail cannabis licenses collectively. Additionally, it prohibits these licensees from entering into management agreements or any other agreements that confer a financial interest across more than five retail cannabis licenses. The definition of "financial interest" is expanded to include various forms of profit sharing, operational control, and coordinated marketing efforts.

Furthermore, the bill introduces a new section that clarifies its applicability, stating that it applies retroactively to agreements made before the effective date and prospectively to those made or renewed thereafter. The act is set to take effect on January 1, 2026. This legislation aims to enhance regulatory oversight and ensure a more equitable distribution of cannabis retail licenses within the state.

Statutes affected:
Original Bill: 69.50.325, 69.50.335
Substitute Bill: 69.50.325
Engrossed Substitute: 69.50.325
Bill as Passed Legislature: 69.50.325
Session Law: 69.50.325