This bill amends Chapter 1, Title 55 of the Idaho Code to introduce a new section, 55-116, which prohibits foreign persons from purchasing or acquiring a controlling interest in single-family homes in Idaho starting July 1, 2026. The bill defines "foreign person" to include non-citizens, foreign corporations, foreign governments, and various entities acting on behalf of these groups. It establishes procedures for enforcement, requiring foreign persons who acquire control of such properties to divest within 180 days. If they fail to do so, the attorney general is authorized to initiate legal action, and the district court may order the property to be sold through judicial foreclosure.

Additionally, the bill amends Section 55-103 to clarify exceptions regarding property ownership, specifically stating that foreign governments and state-controlled enterprises cannot hold controlling interests in agricultural land, water rights, and mineral rights. It also includes provisions for whistleblower rewards for reporting violations, allowing individuals to receive 30% of the proceeds from property sales resulting from such violations. The bill declares an emergency, making it effective immediately upon the specified date.

Statutes affected:
Bill Text: 55-103