This bill amends Chapter 27, Title 67 of the Idaho Code by adding a new section, 67-2763, which establishes provisions aimed at protecting certain adults from financial exploitation. The bill defines key terms such as "financial exploitation," "authorized agencies," "financial institution," "reporting person," and "specified adult." It allows reporting persons, which include broker-dealers, investment advisers, and financial institutions, to notify authorized agencies if they suspect financial exploitation of a specified adult, defined as individuals aged 65 and older or those 18 and older with mental or physical impairments. Reports made to authorized agencies are confidential, and the identity of the reporting person is protected.

Additionally, the bill permits reporting persons to place a temporary hold on transactions involving specified adults if they reasonably believe exploitation is occurring. This hold can last up to 15 business days, extendable to 30 days under certain conditions. The bill also outlines the responsibilities of reporting persons to provide access to relevant records and grants them immunity from liability when acting in good faith. The act is set to take effect on July 1, 2025, due to an emergency declaration.