REVISED
STATEMENT OF PURPOSE
RS31191 / S1296
This legislation adds a new chapter to Idaho Code related to Bitcoin miningdistributed ledger technology
(DLT). It contains legislative findings that Bitcoin miningDLT brings positive economic value to individuals,
corporations and other interests in the state. This legislation will protect the right of individuals and businesses
to mine Bitcoinuse DLTin the state of Idaho by prohibiting regulations that impose certainprohibitive
requirements on Bitcoin miningits use. This legislation also prohibits the public utilities commission from
establishing rate classifications for Bitcoin mining. It further prohibits regulations that would impair the use
of Bitcoin for the purchase of goods and services, and it prohibits special taxes from being enacted solely
because Bitcoin local regulations that would unfairly impair the use of DLT by businesses or at home. The
legislation protects DLT tokens and wallets as a private property right. It also prohibits special taxes from
being enacted solely because distributed ledger technology is used as a method of payment in a transaction.
FISCAL NOTE
There is not expected to be an impact on state or local funding, since this legislation just protects business
and private property rights related to DLT Bitcoin and prohibits certain regulations and special taxation of
BitcoinDLT when used for transactions.
Contact:
Senator Scott Herndon
(208) 332-1349
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note Bill SOP/FN REVISED: 04/02/2024, 10:53 AM