STATEMENT OF PURPOSE
RS30143 / H0188
Idaho’s unclaimed property law, Title 14, Chapter 5, has not undergone a complete update since 1983. Since
then, changes to policy have been piecemeal and sporadic.
This legislation seeks to revise and organize the unclaimed property code so it will be business and
constituent-friendly, technologically current, and garners no new authority for the governing agency.
This legislation provides detailed roadmaps for businesses to follow when reporting unclaimed property and
clear protocols for dormancy triggers. The updates are consistent with existing Idaho law which include laws
governing confidentiality, data breaches and best practices.
The adoption of this revision will have no fiscal impact.
Representative Joe Alfieri
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: 02/22/2023, 10:56 AMStatutes affected:
Bill Text: 14-113, 33-5410, 41-3002, 57-1109, 63-3077E, 66-503
Engrossment 1: 14-113, 33-5410, 41-3002, 57-1109, 63-3077E, 66-503