The bill amends Section 18-3326A of the Idaho Code, which pertains to the Second Amendment Financial Privacy Act. Key changes include the insertion of language that clarifies the definitions of "assignment" and "financial institution," specifically stating that a financial institution's or payment network's policy must not label or associate a firearms code with a merchant or transaction in a way that identifies them as firearms-related. Additionally, the bill prohibits financial institutions and payment networks from discriminating against firearms retailers based on the assignment of a firearms code, including actions such as declining transactions or charging higher fees based on this classification.

Furthermore, the bill establishes that financial institutions and payment networks cannot disclose financial records that include firearms codes collected in violation of the Act. It empowers the attorney general to investigate violations and provides a process for affected firearms retailers or customers to petition for action. If violations persist after notice, the attorney general can seek an injunction, and courts may impose civil penalties for non-compliance. The bill declares an emergency, making it effective on July 1, 2025.

Statutes affected:
Bill Text: 18-3326A