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ID H0901

Bill

Official Source

Status

Introduced

3/16/2026

Primary Sponsor

Ways and Means Committee

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Authorizes Idaho to use payment stablecoins for vendor and contractor payments, with recipients able to elect but not required to accept stablecoin payment
  • Requires the State Treasurer to maintain and publish an annual list of authorized stablecoins that meet federal GENIUS Act standards or qualify as state-issued public purpose stablecoins
  • GENIUS-qualified stablecoins must be 1:1 backed by U.S. dollars or treasury obligations, redeemable at par on demand, and demonstrate at least $2 billion in transaction volume over the preceding 12 months
  • Mandates annual reporting to the legislature by December 15 (starting 2027) on authorized stablecoins, transaction volumes, cost savings, and fiscal benefits
  • Takes effect July 1, 2026 as emergency legislation and authorizes interstate coordination agreements for stablecoin integration

Legislative Description

Adds to existing law to establish the Financial Accountability Stablecoin Transaction (FAST) Act to provide for the authorization and use of payment stablecoins.

FINANCIAL ACCOUNTABILITY STABLECOIN TRANSACTION ACT

Last Action

Reported Printed and Referred to Business

3/16/2026

Committee Referrals

Business3/16/2026

Full Bill Text

No bill text available