REVISED
STATEMENT OF PURPOSE
RS27239 / H0418
The purpose of these amendments to the Idaho Uniform Securities Act are as follows:
To update references to the Securities Exchange Act of 1934, the Securities Act of 1933, and the Investment
Advisers Act of 1940. These federal cites address limitations to state authority under the Securities Exchange
Act of 1934 and the Investment Advisers Act of 1940, and exemptions from agent registration for federal
covered securities under the Securities Act of 1933.
FISCAL NOTE
There will be no fiscal impact to the Idaho Department of Finance State Regulatory Fund (FIAA) associated
with this proposed legislation. The provisions of this proposed legislation will require no additional resources
of the Idaho Department of Finance and will have no impact on the Idaho Department of Finance revenues.
Contact:
Patty Highley
Department of Finance
(208) 332-8030
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 Bill SOP/FN REVISED: 03/02/2020, 2:41 PM