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 legal language mandates that the reporting provisions outlined in subsections (2) through (4) apply to the Idaho Housing and Finance Association, which was not previously specified. The bill establishes a central registry and reporting portal on the state controller's website, where local governmental entities must submit various administrative, financial, and debt obligation information annually by December 1.

Additionally, the bill introduces penalties for noncompliance, including potential late fees and restrictions on budget increases for entities that fail to meet the reporting requirements. The state controller is tasked with notifying entities of their compliance status and may withhold sales tax distributions for noncomplying entities until they rectify their reporting issues. The bill also allows for the assessment of noncompliance fees and the possibility of special audits for non-taxing districts. An emergency clause is included, making the act effective on July 1, 2025.

Statutes affected:
Bill Text: 67-1076