Document dated Apr. 27, 2025, was received on Apr. 30, 2025 due to a fixed feed.
Bill Provisions
Expires the Washington Employee Ownership Program which supports businesses considering a sale to an employee ownership structure, effective June 30, 2030.
Program subject to the availability of amounts appropriated for that specific purpose.
Modifies reporting periods to claim a tax credit for converting a qualifying business to worker-owned cooperative, employee ownership trust, or employee stock ownership.
The program, Washington Employee Ownership Commission, and the Employee Ownership Revolving Loan Program Account are all eliminated effective June 30, 2025.
Legislative History
On Mar. 24, 2025, bill introduced into House; on Apr. 17, 2025, bill passed the House.
On Apr. 19, 2025, bill introduced into Senate; on Apr. 26, 2025, bill passed Senate.
On Apr. 26, 2025, House concurred amendments; on Apr. 27, 2025, sent to governor.
Effectiveness
Effective 90 days after adjournment of the session in which bill is passed, Jul. 27, 2025
May 2025 WAS LEG Governor Approval
On May 19, 2025, WAS LEG reported governor signed bill, assigned Chapter 366.
Document dated May 19, 2025, was added on Jun. 10, 2025, due to editorial backfill.
