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ID H0165

Bill

Status

Passed

3/13/2025

Primary Sponsor

State Affairs Committee

Click for details

Origin

House of Representatives

2025 Regular Session

AI Summary

  • Corrects code references in Idaho's unclaimed property statutes, changing citations from section 14-5-210 to 14-5-209 throughout the affected sections

  • Expands holder notification requirements for securities to apply to all accounts, requiring electronic mail contact within 2 years of the owner's last indication of interest in the property (not just securities)

  • Reduces the transitional reporting lookback period from 7 years to 2 years for property presumed abandoned before July 1, 2024

  • Clarifies that initial reports under the chapter apply to property that was "presumed abandoned" rather than "required to be reported" before July 1, 2024

  • Declares an emergency with an effective date of July 1, 2025

Legislative Description

Amends existing law to revise provisions regarding abandoned property.

PROPERTY

Last Action

Reported Signed by Governor on March 12, 2025 Session Law Chapter 41 Effective: 07/01/2025

3/13/2025

Committee Referrals

Local Government and Taxation2/21/2025
Revenue and Taxation2/7/2025

Full Bill Text

No bill text available