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ID HJM003
JM
Status
3/13/2025
Primary Sponsor
Business Committee
Click for details
AI Summary
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Idaho Legislature requests Congress and the President to repeal the Corporate Transparency Act of 2021, which requires business entities to disclose all individuals with beneficial ownership interest
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Idaho has over 900,000 business entities, with small businesses employing over half of all Idahoans; the state was recently named as having the largest small business growth
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Since 2019, through the Red Tape Reduction Act and other reforms, Idaho has been designated the least regulated state in the nation
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Federal court rulings have created confusion: a December 3, 2024 nationwide injunction was stayed on December 23, 2024 (creating January 13, 2025 deadline), then vacated on December 26, 2024, with DOJ appealing to the Supreme Court on December 31, 2024
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The memorial directs the Chief Clerk to forward copies to the President of the Senate, Speaker of the House, and Idaho's congressional delegation
Legislative Description
States findings of the Legislature and calls on Congress to repeal the Corporate Transparency Act.
CORPORATIONS
Last Action
Delivered to Secretary of State at 11:47 a.m. on March 12, 2025
3/13/2025