Governor signs Padden bill to benefit employee stock ownership plans
Last updated 5/12/2023 at 10:01am
OLYMPIA – Gov. Jay Inslee signed a bill into law Tuesday, May 9, that is designed to aid businesses looking to adopt an employee stock ownership plan.
Senate Bill 5096 was sponsored by 4th District Sen. Mike Padden, R-Spokane Valley.
“This new law will help promote employee ownership, which is valuable not only for employees but for our society,” Padden said.
“Studies have shown that when employees are happier, they stay in their job longer and they retire in a much better financial position.
“And the companies are more likely to remain in the local area.”
Padden added that...