Employee Ownership Blog

Minnesota Bill Would Let Cannabis Businesses Have ESOPs

Written by Corey Rosen | May 15, 2025 12:34:55 AM

A bipartisan bill in the Minnesota Senate (Senate File 3520) would amend several provisions of Minnesota’s cannabis statute to allow ESOP companies to own cannabis businesses. Technical issues with the current licensing law make ESOP trusts ineligible to be owners. Similar legislation was recently enacted in Maryland.