The bill amends existing Idaho Code to clarify the definitions related to programmable money and introduces a new chapter, Chapter 54, titled the Consumer Payment Rights and Transparency Act. It updates Section 28-1-201 to specify that "money" does not include "programmable money," thereby distinguishing it from traditional currency. Additionally, Section 28-9-102 is revised to refine definitions pertinent to financial transactions. The new chapter establishes terms and limitations for the use of programmable money, including remedies for misuse and criminal penalties for violations, ensuring compliance with existing commercial laws.

Key provisions of the bill include the requirement for issuers of programmable money to offer a non-programmable alternative for transactions and to provide reasons for any denied transactions based on discriminatory factors. It also introduces definitions for various parties involved in secured transactions and emphasizes the importance of clear documentation. The bill allows aggrieved parties to seek civil action for damages and attorney's fees, while violations are classified as misdemeanors with associated penalties. A severability clause is included to maintain the enforceability of remaining provisions if any part of the law is invalidated. The bill is set to take effect on July 1, 2026, following an emergency declaration.