PRIA Logo™
WashingtonHB 20472025-2026 Regular SessionHouseWALLET

Eliminating the Washington employee ownership program.

Sponsored By: Adison Richards (Democratic)

Signed by Governor

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 2 costs, 0 mixed.

Employee ownership tax credit ends for businesses

The law ends the conversion tax credit for qualified businesses approved by the department. The credit covers up to 50% of eligible conversion costs. Its caps are $25,000 for worker-owned cooperatives or employee ownership trusts, and $100,000 for employee stock ownership plans. Businesses can earn credits only for tax reporting periods starting on or before June 30, 2025. They cannot claim credits for periods starting on or after July 1, 2026, when the credit law expires.

Employee ownership support ends for businesses

The Washington employee ownership program, its commission, and its revolving loan account end on June 30, 2030. This ends program support for businesses seeking to become employee-owned. Until then, the program and commission operate only when money appropriated for their specific purposes is available. The program's annual report to lawmakers is also required only when that funding is available.

Sponsors & Cosponsors

Sponsor

  • Adison Richards

    Democratic • House

Cosponsors

  • Lisa Parshley

    Democratic • House

  • Mia Gregerson

    Democratic • House

  • Nicole Macri

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 140 • No: 102

Senate vote • 4/26/2025

3rd Reading & Final Passage as Amended by the Senate

Yes: 25 • No: 23

House vote • 4/26/2025

Final Passage as Amended by the Senate

Yes: 58 • No: 40

House vote • 4/17/2025

3rd Reading & Final Passage

Yes: 57 • No: 39 • Other: 2

Actions Timeline

  1. Effective date 7/27/2025.

    5/19/2025House

  2. Chapter 366, 2025 Laws.

    5/19/2025House

  3. Governor signed.

    5/19/2025legislature

  4. Delivered to Governor.

    4/27/2025legislature

  5. President signed.

    4/27/2025legislature

  6. Speaker signed.

    4/27/2025legislature

  7. Third reading, passed; yeas, 25; nays, 23; absent, 0; excused, 0.

    4/26/2025House

  8. Rules suspended. Placed on Third Reading.

    4/26/2025House

  9. Committee amendment(s) adopted with no other amendments.

    4/26/2025House

  10. Passed final passage; yeas, 58; nays, 40; absent, 0; excused, 0.

    4/26/2025House

  11. House concurred in Senate amendments.

    4/26/2025House

  12. Minority; without recommendation.

    4/25/2025House

  13. Minority; do not pass.

    4/25/2025House

  14. WM - Majority; do pass with amendment(s).

    4/25/2025House

  15. Passed to Rules Committee for second reading.

    4/25/2025House

  16. Placed on second reading by Rules Committee.

    4/25/2025House

  17. First reading, referred to Ways & Means.

    4/19/2025House

  18. Third reading, passed; yeas, 57; nays, 39; absent, 0; excused, 2.

    4/17/2025House

  19. Rules suspended. Placed on Third Reading.

    4/17/2025House

  20. 1st substitute bill substituted.

    4/17/2025House

  21. Rules Committee relieved of further consideration. Placed on second reading.

    4/16/2025House

  22. Referred to Rules 2 Review.

    4/8/2025House

  23. Minority; without recommendation.

    4/5/2025House

  24. APP - Majority; 1st substitute bill be substituted, do pass.

    4/5/2025House

  25. Minority; do not pass.

    4/5/2025House

Bill Text

Related Bills

Back to State Legislation