STATEMENT OF PURPOSE
RS26745C1
This legislation is intended to update certain sections of the Idaho Insurance Code dealing with investment
and reporting requirements for domestic insurers and bring them in line with current day investment and
economic conditions. The amendments to I.C. section 41-705 clarify the disclosure requirements regarding
an officer or director's investments and add a limited disclosure exemption for certain investments commonly
found in 401k or other retirement accounts. The amendments to I.C. section 41-728 update and provide
clarification regarding investment allowances for land and buildings used for home office purposes. The
amendments to I.C. section 41-735 adjust the allowable investment levels for miscellaneous to bring them
in line with most states.
FISCAL NOTE
There is no fiscal impact to the general fund or any other state fund or expenditure. This legislation merely
updates language to certain code provisions relating to investment restrictions and reporting requirements
for domestic insurance companies.
Contact:
John Mackey
(208) 250-2204
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note H0112


Statutes affected:
Bill Text: 41-705, 41-728, 41-735