Eliminating the Washington employee ownership program.
HB 2047 phases out the Washington employee ownership program. It shortens the period during which businesses can earn tax credits for converting to worker-owned cooperatives, employee ownership trusts, or employee stock ownership plans, moving the deadline for earning credits from June 30, 2029, to June 30, 2025. The bill also makes the program's activities, such as providing technical support and referrals, contingent upon specific funding appropriations. The tax credit provisions are set to expire earlier, effectively eliminating these incentives for businesses.
Bill status
signed
all 5 stages cleared
Introduction
Mar 2025
Committee Review
Apr 2025
House Passage
Apr 2025
Senate Passage
Apr 2025
Signed into Law
May 2025
Introduced Mar 24, 2025
Signed May 19, 2025
Maddy AI version diff · 2 comparisons
What changed between versions
Substitute Bill
→
Substitute Passed Legislature
·
5 edits
MODERATE
The bill was amended to preserve and expand the Washington employee ownership program instead of eliminating it. The changes restructure the program to include a new commission, clarify loan guidelines for worker cooperatives, and update expiration dates to 2030.
Scope change
The bill's scope shifted from eliminating the program to maintaining and strengthening it by creating a dedicated commission and updating administrative rules.
SCOPE
The act was changed from repealing the employee ownership program to amending and preserving it.
REQUIREMENT
A new Washington employee ownership commission was created to oversee the program and develop administrative rules.
ELIGIBILITY
Loan guidelines for worker cooperatives were updated to allow lending based on cash flow and business assets rather than requiring personal guarantees.
TIMELINE
The expiration date for the program and related sections was extended to June 30, 2030.
DEFINITION
The list of repealed statutes was updated to reflect the new structure of the program.
Floor votes · Senate Apr 26, 2025 · House Apr 26, 2025
How they voted
26–24
Passed
Total votes 50
Apr 26, 2025
D
Democratic30
83% Yea
R
Republican20
95% Nay
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
30
Key actions
15
Committee
11
May 19, 2025
Signed into law
Governor signed.
executive
Apr 27, 2025
Upper · Passed
President signed.
upper
Apr 27, 2025
Lower · Passed
Speaker signed.
lower
Apr 26, 2025
Lower · Passed
Passed final passage; yeas, 58; nays, 40; absent, 0; excused, 0.
lower
Apr 26, 2025
Lower · Passed
House concurred in Senate amendments.
lower
Apr 26, 2025
Upper · Passed
Committee amendment(s) adopted with no other amendments.
upper
Apr 25, 2025
Upper · Passed
Minority; without recommendation.
upper
Apr 25, 2025
Upper · Passed
Minority; do not pass.
upper
Apr 25, 2025
Upper · Passed
WM - Majority; do pass with amendment(s).
upper
Apr 25, 2025
Upper · Passed
Executive action taken in the Senate Committee on Ways & Means at 1:30 PM.
upper
Apr 23, 2025
Upper · Passed
Public hearing in the Senate Committee on Ways & Means at 1:30 PM.
upper
Apr 8, 2025
Committee
Referred to Rules 2 Review.
lower
Apr 5, 2025
Lower · Passed
Minority; without recommendation.
lower
Apr 5, 2025
Lower · Passed
Minority; do not pass.
lower
Apr 5, 2025
Lower · Passed
Executive action taken in the House Committee on Appropriations at 9:00 AM.
lower
Apr 3, 2025
Lower · Passed
Public hearing in the House Committee on Appropriations at 1:30 PM.
lower
1 primary · 3 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Adison Richards
DDemocratic
Co
Lisa Parshley
DDemocratic
Co
Mia Gregerson
DDemocratic
Co
Nicole Macri
DDemocratic
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