IdahoIdaho law addresses credit union and cemetery code provisions
Idaho's finance cleanup law addresses credit union reserve rules and code sections about the Idaho Corporate Credit Union and cemeteries, effective July 1, 2026.
What it does
The law addresses sections about the Idaho Corporate Credit Union, covering areas such as membership, governance, loans, and finances. The text does not establish whether these provisions changed from prior law.
The law addresses two cemetery sections: one about owners' duties and another about which laws apply to cemeteries. The text does not establish whether these provisions changed from prior law.
The law addresses how much credit unions keep in reserve. The text includes an extra reserve for member accounts that can be accessed by negotiable instrument, but does not establish which wording changed.
Argument forRemoving rules the Legislature calls outdated could make Idaho's code easier to follow for credit unions and cemetery owners.
Argument againstIf these sections no longer apply, credit unions and cemetery owners could have fewer state-specific rules to guide their work.
More detail
The law addresses sections about the Idaho Corporate Credit Union, including its membership, governance, loans, and finances. These sections concern the Idaho Corporate Credit Union and its member credit unions. The law takes effect July 1, 2026.
The law addresses two sections about cemetery owners' duties and which laws apply to cemeteries. These sections concern cemetery owners and the application of law to cemeteries. The law takes effect July 1, 2026.
The law addresses credit unions' cash reserves, including extra reserves for certain member accounts. The reserve rules apply to credit unions. Reserves may be held as cash or in approved deposits, and federal reserve requirements count toward the required amount. Credit unions must hold reserves equal to four percent of specified shares, certificates of deposit, and certificates of indebtedness. Credit unions offering accounts that members can access by negotiable instrument must hold an additional reserve equal to ten percent of those accounts. The law takes effect July 1, 2026.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 1Reported Signed by Governor Brad Little on March 31, 2026 Session Law Chapter 231 Effective: 07/01/2026Became Law
- Mar 27Delivered to Governor at 12:01 p.m. on March 27, 2026To Governor
- Mar 27Returned Signed by the President; Ordered Transmitted to GovernorMinor
- Mar 26Signed by President; returned to HouseMajor
- Mar 26Received from the House enrolled/signed by SpeakerMajor
- Mar 26Reported Enrolled; Signed by Speaker; Transmitted to SenateMajor
- Mar 25Returned from Senate Passed; to JRA for EnrollingMinor
- Vote recorded Read third time in full –. Result: pass.Upper
- Mar 25Read third time in full – PASSED - 34-0-1AYES – Anthon, Bernt, Bjerke(Bjerke), Blaylock, Burtenshaw, Carlson, Cook, Den Hartog, Foreman, Galloway, Grow, Guthrie, Harris, Hart, Keyser, Kohl, Lakey, Lenney, Lent, Nichols, Okuniewicz, Rabe, Ricks, Ruchti, Semmelroth, Shippy, Taylor, Toews, VanOrden, Ward-Engelking, Wintrow, Woodward, Zito, ZuiderveldNAYS – NoneAbsent and excused – AdamsFloor Sponsor - LakeyTitle apvd - to HousePassed 2nd Chamber
- Mar 20Read second time; filed for Third ReadingMinor
- Mar 19Reported out of Committee with Do Pass Recommendation; Filed for second readingMinor
- Mar 13Introduced, read first time; referred to: Commerce & Human ResourcesMinor
- Mar 13Received from the House passed; filed for first reading
- Mar 12Read Third Time in Full – PASSED - 67-0-3AYES – Alfieri, Barbieri, Beiswenger, Berch, Bingham, Boyle, Bruce, Burgoyne, Cannon, Cayler, Cheatum, Cornilles, Crane(13), Dygert, Egbert, Ehardt, Ehlers, Erickson(Larsen), Fuhriman, Furniss, Galaviz, Gannon, Garner, Green, Hall(Stone), Handy, Harris, Hawkins, Haws, Healey, Hill, Holtzclaw, Hostetler, Leavitt, Manwaring, Marmon, Mathias, McCann, Mendive, Mickelsen, Miller, Mitchell, Monks, Nelsen, Palmer, Petzke, Pickett, Pohanka, Price, Rasor, Raybould, Raymond, Redman, Rubel, Sauter, Scott, Shepherd, Shirts, Tanner(13), Tanner(14), Thompson, Vander Woude, Veile, Weber, Wheeler, Wisniewski, Mr. SpeakerNAYS – NoneAbsent – Church, Crane(12), SkaugFloor Sponsor - EhlersTitle apvd - to SenatePassed 1st Chamber
- Vote recorded Read Third Time in Full –. Result: pass.Lower
- Mar 11Read second time; Filed for Third ReadingMinor
- Mar 10Reported out of Committee with Do Pass Recommendation, Filed for Second ReadingMinor
- Feb 26Reported Printed and Referred to Business
- Feb 25Introduced, read first time, referred to JRA for PrintingIntroduced