This bill amends Section 67-1076 of the Idaho Code to enhance reporting requirements for local governmental entities, specifically including the Idaho Housing and Finance Association. The new provisions mandate that the Idaho Housing and Finance Association must adhere to the same reporting standards as other local governmental entities, which include submitting administrative, financial, and debt obligation information to a central registry on the state controller's website by December 1 each year. Additionally, the bill establishes penalties for noncompliance, including potential late fees and restrictions on budget increases for noncomplying entities.

The bill also outlines the responsibilities of county clerks and the state tax commission in notifying local governmental entities of their reporting obligations and ensuring compliance. If an entity fails to comply, the state controller is required to notify the appropriate authorities, and the county commissioners may impose public notice costs and noncompliance fees. The bill emphasizes the importance of transparency and accountability in local government financial reporting and establishes a timeline for compliance, with an effective date set for July 1, 2025.

Statutes affected:
Bill Text: 67-1076