The bill amends Section 18-3326A of the Idaho Code, which pertains to the Second Amendment Financial Privacy Act. Key changes include the introduction of new definitions and provisions that clarify the roles of financial institutions and payment networks in relation to firearms transactions. Specifically, the bill prohibits financial institutions and payment networks from requiring the use of a firearms code that distinguishes firearms retailers from other merchants, and it prevents discrimination against firearms retailers based on the assignment of such codes. Additionally, it establishes that no entity may maintain a registry of privately owned firearms or their owners, and it outlines the attorney general's authority to investigate violations and enforce compliance.

The bill also includes provisions for penalties against entities that fail to comply with the requirements regarding firearms codes, including civil penalties of up to $10,000 for each violation. It allows affected firearms retailers or customers to petition the attorney general for investigations into alleged violations and provides a mechanism for legal action if the attorney general does not act within a specified timeframe. The act is set to take effect on July 1, 2025, and declares an emergency to expedite its implementation.

Statutes affected:
Bill Text: 18-3326A