Removing cannabis industry barriers.

HB 1346 removes a restriction requiring cannabis business investors to be Washington residents, allowing out-of-state investment like venture capital and equity funding for the first time. This change directly affects cannabis businesses seeking growth capital, particularly small or community-based operators, by aligning Washington's rules with other legal cannabis states. The bill also adds provisions to suspend inactive cannabis producer licenses to address market oversupply, pending potential federal or interstate cannabis markets. These updates amend licensing rules under RCW 69.50.325 and 69.50.331 without altering product regulations or safety standards.