Idaho Opportunity Fund - Summary

• Creates the Idaho Opportunity Fund in the state treasury to be administered by the Idaho Department of Commerce for promoting economic development and retaining, expanding, or attracting quality jobs in vital industries.

• Fund sources include legislative appropriations, repayment of improperly disbursed moneys, and gifts or grants donated to the fund.

• Allocates fund moneys to local governments for infrastructure improvements including water, sewer, utility systems, environmental hazard mitigation, railroads, broadband, roads, and other public costs directly related to job creation or expansion projects.

• Requires written agreements between the Department of Commerce and local governments, and between local governments and businesses, establishing job creation targets, salary ranges, performance timelines, disbursement schedules, and repayment terms for non-compliance.

• Mandates annual public reporting by the Department Director by September 30 each year on fund commitments, disbursements, jobs created, capital expenditures, and median wages, with quarterly reports to the economic advisory council.