Loading chat...
ID H0032
Bill
Status
1/26/2023
Primary Sponsor
Business Committee
Click for details
AI Summary
-
Creates new Idaho Code Section 26-1111A prohibiting financial institutions from disclosing account balances, transactions, transfers, or similar information to the IRS except as required by state or federal law in effect on the date of enactment.
-
Defines "financial institution" as banks, trust companies, mutual savings banks, savings and loan associations, and credit unions authorized to do business in Idaho under state or federal law.
-
Defines "account" to include checking accounts, savings accounts, certificates of deposit, share accounts, and similar deposit arrangements.
-
Amends Section 26-1112 to condition all permitted disclosures by the Department of Finance on compliance with the new Section 26-1111A restrictions.
-
Declares an emergency, making the act effective immediately upon passage and approval.
Legislative Description
Amends and adds to existing law to establish provisions regarding disclosures by financial institutions to the Internal Revenue Service.
BANKS
Last Action
Reported Printed and Referred to Business
1/27/2023