H0649 • 2026

MONEY OF ACCOUNT AND INTEREST – Adds to existing law to provide for interest rates to be allowed by agreement subject to certain limitations.

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: BUSINESS COMMITTEE
Last action: 2026-03-25
Official status: H Bus
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

MONEY OF ACCOUNT AND INTEREST – Adds to existing law to provide for interest rates to be allowed by agreement subject to certain limitations.

What This Bill Does

MONEY OF ACCOUNT AND INTEREST – Adds to existing law to provide for interest rates to be allowed by agreement subject to certain limitations.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-03-25 Idaho State Legislature
Take bill off General Orders; referred to Business
2026-03-06 Idaho State Legislature
Reported out of Committee, Recommend place on General Orders
2026-02-13 Idaho State Legislature
Reported Printed and Referred to Business
2026-02-12 Idaho State Legislature
Introduced, read first time, referred to JRA for Printing

Official Summary Text

MONEY OF ACCOUNT AND INTEREST – Adds to existing law to provide for interest rates to be allowed by agreement subject to certain limitations.

Current Bill Text

Read the full stored bill text

LEGISLATURE
OF
THE
STATE
OF
IDAHO
Sixty-eighth
Legislature
Second
Regular
Session
-
2026
IN
THE
HOUSE
OF
REPRESENTATIVES
HOUSE
BILL
NO.
649
BY
BUSINESS
COMMITTEE
AN
ACT
1
RELATING
TO
MONEY
OF
ACCOUNT
AND
INTEREST;
AMENDING
CHAPTER
22,
TITLE
28,
2
IDAHO
CODE,
BY
THE
ADDITION
OF
A
NEW
SECTION
28
-
22
-
103,
IDAHO
CODE,
TO
3
PROVIDE
FOR
INTEREST
RATES
TO
BE
ALLOWED
BY
AGREEMENT;
AND
DECLARING
AN
4
EMERGENCY
AND
PROVIDING
AN
EFFECTIVE
DATE.
5
Be
It
Enacted
by
the
Legislature
of
the
State
of
Idaho:
6
SECTION
1.
That
Chapter
22,
Title
28,
Idaho
Code,
be,
and
the
same
is
7
hereby
amended
by
the
addition
thereto
of
a
NEW
SECTION
,
to
be
known
and
des
-
8
ignated
as
Section
28
-
22
-
103,
Idaho
Code,
and
to
read
as
follows:
9
28
-
22
-
103.
INTEREST
RATE
ALLOWED
BY
AGREEMENT.
(1)
Parties
may
agree
10
in
writing
to
the
payment
of
any
rate
of
interest
and
fees
that
do
not
exceed
1
1
the
greater
of
thirty
percent
(30%)
or
an
amount
that
is
ten
(10)
percentage
12
points
per
year
above
the
prime
rate
published
by
the
federal
reserve
sys
-
13
tem
in
its
statistical
release,
H.15
selected
interest
rates,
for
bank
prime
14
loans
dated
three
(3)
business
days
prior
to
the
execution
of
the
agreement.
15
Interest
must
be
allowed
according
to
the
terms
of
the
agreement.
16
(2)
A
loan
agreement
that
is
not
usurious
when
made
is
lawful
for
the
17
duration
of
the
loan
provided
that
the
loan
agreement
is
not
substantially
18
changed.
This
subsection
shall
not
apply
to
loan
renewals.
19
(3)
The
provisions
of
this
section
shall
not
apply
to
a
regulated
20
lender,
as
defined
in
section
28
-
41
-
301,
Idaho
Code.
21
SECTION
2.
An
emergency
existing
therefor,
which
emergency
is
hereby
22
declared
to
exist,
this
act
shall
be
in
full
force
and
effect
on
and
after
23
July
1,
2026.
24