ID S1323

Amends Section 61-104, Idaho Code to revise the definition of "corporation" to explicitly exclude mutual nonprofits, homeowners associations, cooperative associations, formal water districts, and cooperative gas, electrical, water, or telephone corporations organized for service at cost and not for profit.

Amends Section 61-125, Idaho Code to revise the definition of "water corporation" by changing "compensation" to "profit" and adding an exemption for water systems that deliver water to a single entity not defined as a "corporation" under Idaho Code.

Changes references from "this act" to "this title" throughout the amended sections for clarification and consistency.

Declares an emergency and makes the bill effective July 1, 2024.