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LEGISLATURE
OF
THE
STATE
OF
IDAHO
Sixty-eighth
Legislature
Second
Regular
Session
-
2026
IN
THE
HOUSE
OF
REPRESENTATIVES
HOUSE
BILL
NO.
947
BY
WAYS
AND
MEANS
COMMITTEE
AN
ACT
1
RELATING
TO
IDAHOMES
FOR
IDAHO
CITIZENS
NOT
CORPORATIONS;
AMENDING
CHAPTER
2
1,
TITLE
55,
IDAHO
CODE,
BY
THE
ADDITION
OF
A
NEW
SECTION
55
-
116,
IDAHO
3
CODE,
TO
ESTABLISH
PROVISIONS
PROHIBITING
THE
PURCHASE
OF
SINGLE
-
FAM
-
4
ILY
HOMES
BY
INSTITUTIONAL
INVESTORS,
TO
DEFINE
TERMS,
TO
PROVIDE
FOR
5
ENFORCEMENT,
AND
TO
PROVIDE
FOR
IMMUNITY
FROM
LIABILITY;
AMENDING
SEC
-
6
TION
55
-
103,
IDAHO
CODE,
TO
REVISE
A
PROVISION
REGARDING
EXCEPTIONS
TO
7
WHO
MAY
OWN
PROPERTY
AND
TO
MAKE
A
TECHNICAL
CORRECTION;
AND
DECLARING
8
AN
EMERGENCY
AND
PROVIDING
AN
EFFECTIVE
DATE.
9
Be
It
Enacted
by
the
Legislature
of
the
State
of
Idaho:
10
SECTION
1.
That
Chapter
1,
Title
55,
Idaho
Code,
be,
and
the
same
is
1
1
hereby
amended
by
the
addition
thereto
of
a
NEW
SECTION
,
to
be
known
and
des
-
12
ignated
as
Section
55
-
116,
Idaho
Code,
and
to
read
as
follows:
13
55
-
116.
IDAHOMES
FOR
IDAHO
CITIZENS
NOT
CORPORATIONS.
(1)
On
and
after
14
July
1,
2026,
an
institutional
investor,
as
defined
in
this
section,
shall
15
not
be
permitted
to
purchase
or
acquire
a
controlling
interest
in
the
owner
-
16
ship
of
a
single
-
family
home
property
in
Idaho.
17
(2)
For
the
purpose
of
this
section:
18
(a)
"Home
builder"
means
an
entity
whose
primary
business
is
the
con
-
19
struction
of
new
single
-
family
homes
that
are
offered
for
sale
to
indi
-
20
vidual
buyers
and
are
not
for
long
-
term
rental
purposes.
21
(b)
"Institutional
investor"
means
any
corporation,
limited
liabil
-
22
ity
company,
limited
partnership,
partnership,
or
other
corporate
23
structure
with
more
than
one
(1)
member
that
purchases
or
otherwise
24
acquires
title
or
ownership
to
single
-
family
dwellings
for
the
purpose
25
of
profit.
"Institutional
investor"
does
not
include
the
following,
26
regardless
of
how
they
hold
real
property:
a
home
builder,
remodeler,
27
natural
person,
marital
community,
family
trust
or
estate,
nonprofit,
28
community
land
trust,
tribal
housing,
or
a
foreclosure
or
deed
-
in
-
lieu
29
acquisition
by
a
lender
or
servicer
with
a
mandatory
disposition
win
-
30
dow.
31
(c)
"Single
-
family
home"
means
a
residential
structure
that
is
in
-
32
tended
for
occupancy
by
one
(1)
family,
such
as
a
detached
house.
33
(3)
An
institutional
investor
that
acquires,
directly
or
indirectly,
34
control
of
a
single
-
family
home
property
on
or
after
July
1,
2026,
by
de
-
35
vise,
by
descent,
through
the
enforcement
of
security
interests,
or
through
36
the
collection
of
debts,
must
sell,
transfer,
or
otherwise
divest
itself
of
37
such
property
within
one
hundred
eighty
(180)
days
of
acquiring
control
of
38
the
property.
39
(4)
If
an
institutional
investor
does
not
divest
the
single
-
family
home
40
property
as
required
by
this
section,
the
attorney
general
shall
commence
an
41
action
in
the
district
court
within
the
jurisdiction
of
the
property.
42
2
(5)
If
the
property
is
held
in
violation
of
this
section,
the
district
1
court
shall
order
that
the
property
be
sold
through
judicial
foreclosure.
2
Proceeds
of
the
sale
shall
be
disbursed
to
lienholders,
in
the
order
of
pri
-
3
ority,
except
for
liens
that,
under
the
terms
of
the
sale,
are
to
remain
on
4
the
property.
5
(6)
The
responsibility
for
determining
whether
an
institutional
in
-
6
vestor
is
subject
to
the
provisions
of
this
section
rests
solely
with
the
7
institutional
investor
and
the
attorney
general.
An
individual
or
entity
8
who
is
not
an
institutional
investor
shall
not
be
required
to
determine
or
9
inquire
whether
another
person
or
entity
is
or
may
be
subject
to
the
provi
-
10
sions
of
this
section
and
shall
bear
no
civil
or
criminal
liability
under
1
1
this
section.
12
SECTION
2.
That
Section
55
-
103,
Idaho
Code,
be,
and
the
same
is
hereby
13
amended
to
read
as
follows:
14
55
-
103.
WHO
MAY
OWN
PROPERTY.
(1)
Except
as
provided
in
subsection
(2)
15
or
(3)
of
this
section
or
as
otherwise
provided
in
this
chapter
,
any
person,
16
whether
citizen
or
alien,
may
take,
hold,
and
dispose
of
property,
real
or
17
personal.
18
(2)
Notwithstanding
any
provision
of
law
to
the
contrary,
on
and
af
-
19
ter
the
effective
date
of
this
subsection,
a
foreign
government
or
a
foreign
20
state
-
controlled
enterprise
shall
not
purchase,
acquire,
or
hold
any
con
-
21
trolling
interest
in
agricultural
land,
forest
land,
water
rights,
mining
22
claims,
or
mineral
rights
in
the
state
of
Idaho.
This
subsection
does
not
23
apply
to
any
interest
in
agricultural
land,
forest
land,
water
rights,
min
-
24
ing
claims,
or
mineral
rights
acquired
by
a
foreign
government
or
foreign
25
state
-
controlled
enterprise
prior
to
the
effective
date
of
this
subsection
26
or
to
any
foreign
pension
fund.
27
(3)
Notwithstanding
any
other
provision
of
law
to
the
contrary,
a
for
-
28
eign
principal
from
a
foreign
adversary
shall
not
purchase,
acquire,
or
hold
29
any
controlling
interest,
except
a
de
minimis
indirect
interest,
in
agricul
-
30
tural
land,
water
rights,
mining
claims,
or
mineral
rights
in
the
state
of
31
Idaho.
A
foreign
principal
has
a
de
minimis
indirect
interest
if
any
owner
-
32
ship
is
the
result
of
the
foreign
principal's
ownership
of
registered
equi
-
33
ties
in
a
publicly
traded
company
owning
the
land
and
if
the
foreign
princi
-
34
pal's
ownership
in
the
company
is
either:
35
(a)
Less
than
five
percent
(5%)
of
any
class
of
registered
equities
or
36
less
than
five
percent
(5%)
in
the
aggregate
in
multiple
classes
of
reg
-
37
istered
equities;
or
38
(b)
A
noncontrolling
interest
in
an
entity
controlled
by
a
company
that
39
is
both
registered
with
the
United
States
securities
and
exchange
com
-
40
mission
as
an
investment
advisor
under
the
investment
advisers
act
of
41
1940,
as
amended,
and
is
not
a
foreign
entity.
42
(4)
A
foreign
principal
that
directly
or
indirectly
owns
or
otherwise
43
controls
agricultural
land,
water
rights,
mining
claims,
or
mineral
rights
44
in
the
state
of
Idaho
must
sell,
transfer,
or
otherwise
divest
itself
of
45
the
agricultural
land,
mining
claims,
or
mineral
rights
within
one
hundred
46
eighty
(180)
days
of
the
effective
date
of
this
act.
47
(5)
A
foreign
principal
that
directly
or
indirectly
owns
or
acquires
48
agricultural
land,
water
rights,
or
any
interest
in
such
land
in
this
state
49
3
must
register
with
the
Idaho
state
department
of
agriculture
within
sixty
1
(60)
days
of
the
effective
date
of
this
act
or
the
date
of
acquisition,
2
whichever
is
latest.
The
department
must
establish
a
form
for
such
registra
-
3
tion,
which,
at
a
minimum,
must
include
all
of
the
following:
4
(a)
The
name
of
the
owner
of
the
agricultural
land,
water
rights,
or
the
5
owner
of
the
interest
in
such
land;
6
(b)
The
address
of
the
agricultural
land,
the
property
appraiser's
par
-
7
cel
identification
number,
and
the
property's
legal
description;
and
8
(c)
The
number
of
acres
of
agricultural
land.
9
(6)
A
foreign
principal
that
directly
owns
or
acquires
mining
claims
10
or
mineral
rights
or
any
interest
in
such
claims
in
this
state
must
register
1
1
with
the
Idaho
department
of
lands
and
the
Idaho
secretary
of
state
within
12
sixty
(60)
days
of
the
effective
date
of
this
act
or
the
date
of
acquisition,
13
whichever
is
latest.
The
foreign
principal
shall
be
registered
to
do
busi
-
14
ness
with
the
Idaho
secretary
of
state's
office.
The
Idaho
department
of
15
lands
shall
provide
the
form
for
such
registration,
which
at
a
minimum
must
16
include
the
following:
17
(a)
The
mineral
lease
number
with
lease
length
and
premises
by
parcel
18
and
acres;
and
19
(b)
The
application
for
use
of
state
land
by
the
individual
or
legal
en
-
20
tity.
21
(7)
Notwithstanding
the
provisions
of
subsection
(3)
of
this
section,
a
22
foreign
principal
from
a
foreign
adversary
country
may
acquire
agricultural
23
land,
mining
claims,
or
mineral
rights
on
or
after
July
1,
2025,
by
devise
24
or
descent,
through
the
enforcement
of
security
interests,
or
through
the
25
collection
of
debts,
provided
that
the
foreign
principal
sells,
transfers,
26
or
otherwise
divests
itself
of
the
agricultural
land,
water
rights,
mining
27
claims,
or
mineral
rights
within
one
hundred
eighty
(180)
days
of
acquiring
28
the
agricultural
land,
mining
claims,
or
mineral
rights.
29
(8)
The
provisions
of
subsections
(3)
through
(7)
of
this
section
shall
30
not
apply
to
an
entity
that
has
a
national
security
agreement
with
the
com
-
31
mittee
on
foreign
investment
in
the
United
States
as
of
July
1,
2025,
and
32
maintains
such
national
security
agreement.
33
(9)
The
Idaho
state
department
of
agriculture
and
department
of
lands
34
shall
adopt
rules,
subject
to
legislative
approval,
to
implement
the
provi
-
35
sions
of
this
section.
36
(10)
The
responsibility
for
determining
whether
an
entity
is
subject
to
37
this
section
rests
solely
with
the
foreign
entity,
the
attorney
general,
or
38
any
qualifying
whistleblower,
and
no
other
individual
or
entity.
An
indi
-
39
vidual
or
entity
who
is
not
a
foreign
entity
shall
not
be
required
to
deter
-
40
mine
or
inquire
whether
another
person
or
entity
is
or
may
be
subject
to
the
41
provisions
of
this
section
and
shall
bear
no
civil
or
criminal
liability
un
-
42
der
this
section.
43
(11)
If
a
foreign
principal
from
a
foreign
adversary
country
does
not
44
divest
the
public
or
private
lands,
mining
claims,
or
mineral
rights
as
re
-
45
quired
by
this
section,
the
attorney
general
shall
commence
an
action
in
the
46
district
court
within
the
jurisdiction
of
the
public
or
private
land,
mining
47
claims,
or
mineral
rights.
48
4
(12)
If
the
public
or
private
land
is
held
in
violation
of
this
sec
-
1
tion,
the
district
court
shall
order
that
the
public
or
private
land
be
sold
2
through
judicial
foreclosure.
3
(13)
Proceeds
of
the
sale
shall
be
disbursed
to
lienholders,
in
the
or
-
4
der
of
priority,
except
for
liens
that,
under
the
terms
of
the
sale,
are
to
5
remain
on
the
public
or
private
land.
6
(14)
Any
individual
may
act
as
a
whistleblower
and
provide
a
referral
to
7
the
office
of
the
attorney
general
for
violations
of
this
section.
8
(15)
If
a
whistleblower
referral
results
in
a
divestiture
of
land,
min
-
9
ing
claims,
or
mineral
rights
or
other
assets
held
in
violation
of
this
sec
-
10
tion,
the
whistleblower
shall
be
entitled
to
a
reward
equal
to
thirty
percent
1
1
(30%)
of
the
proceeds
of
the
land,
mining
claims,
mineral
rights,
or
asset
12
sale
resulting
from
a
violation
of
this
section
after
payment
of
lienhold
-
13
ers.
Proceeds
of
the
sale
shall
be
disbursed
in
the
following
order:
14
(a)
To
bona
fide
lienholders,
in
order
of
priority,
except
for
liens
15
that,
under
the
terms
of
the
sale,
are
to
remain
on
the
property;
16
(b)
The
payment
of
authorized
costs
of
the
sale,
including
all
approved
17
fees
and
expenses
of
the
referee
and
any
taxes
and
assessments
due;
18
(c)
The
payment,
in
an
amount
approved
by
the
court,
to
the
attorney
19
general
for
reimbursement
of
investigation
and
litigation
costs
and
ex
-
20
penses;
21
(d)
To
whistleblowers;
and
22
(e)
To
the
restricted
foreign
entity.
23
(16)
The
whistleblower
enforcement
provision
takes
effect
one
hundred
24
eighty
(180)
days
after
the
enforcement
date
of
this
section.
25
(17)
As
used
in
this
section:
26
(a)
"Agricultural
land"
shall
have
the
same
meaning
as
"land
actively
27
devoted
to
agricultural
purposes"
as
provided
in
section
63
-
604,
Idaho
28
Code.
29
(b)
"Controlling
interest"
means:
30
(i)
Possession
of
more
than
fifty
percent
(50%)
of
the
ownership
31
interest
in
an
entity;
or
32
(ii)
A
percentage
of
ownership
interest
in
an
entity
that
is
fifty
33
percent
(50%)
or
less
if
a
foreign
government
actually
directs
the
34
business
and
affairs
of
the
entity
without
the
requirement
or
con
-
35
sent
of
any
other
party.
36
(c)
"Foreign
adversary"
means
any
foreign
government
or
foreign
non
-
37
government
person
engaged
in
a
long
-
term
pattern
or
serious
instances
38
of
conduct
significantly
adverse
to
the
national
security
of
the
United
39
States
or
security
and
safety
of
United
States
persons
as
determined
un
-
40
der
15
CFR
791.4,
as
it
existed
on
January
1,
2025.
41
(d)
"Foreign
government"
means
a
government
other
than
the
federal
gov
-
42
ernment
of
the
United
States
or
the
government
of
any
state,
political
43
subdivision
of
a
state,
territory,
federally
recognized
Indian
tribe,
44
or
possession
of
the
United
States.
45
(e)
"Forest
land"
means
privately
owned
or
state
-
owned
land
being
held
46
and
used
primarily
for
the
continuous
purpose
of
growing
and
harvesting
47
trees
of
a
marketable
species.
Having
met
the
above
criteria,
forest
48
land
includes:
49
5
(i)
Forest
land
is
land
evidenced
by
present
use
and
silvicul
-
1
tural
treatment.
2
(ii)
Forest
land
is
land
that
has
a
dedicated
use
that
is
further
3
evidenced
by
a
forest
land
management
plan
that
includes
eventual
4
harvest
of
the
forest
crop.
5
(iii)
Forest
land
is
land
bearing
forest
growth
or
land
that
has
6
not
been
converted
to
another
use.
7
(iv)
Forest
land
is
land
that
has
had
the
trees
removed
by
man
8
through
harvest,
including
clear
-
cuts
or
by
natural
disaster,
9
such
as
but
not
limited
to
fire,
and
which
within
five
(5)
years
af
-
10
ter
harvest
or
initial
assessment
will
be
reforested
as
specified
1
1
in
the
forest
practices
act,
chapter
13,
title
38,
Idaho
Code.
12
(f)
"Foreign
pension
fund"
means
a
trust,
corporation,
or
other
entity
13
created
or
organized
under
the
law
of
a
country
other
than
the
United
14
States
to
provide
retirement
or
pension
fund
benefits.
However,
the
15
term
"foreign
pension
fund"
shall
not
include
any
trust,
corporation,
16
or
other
entity
that
is
owned
by
or
subject
to
a
controlling
interest
of
17
a
sovereign
wealth
fund.
18
(g)
"Foreign
principal"
means:
19
(i)
The
government
or
any
official
of
the
government
of
a
foreign
20
adversary;
21
(ii)
A
political
party
or
member
of
a
political
party
or
any
subdi
-
22
vision
of
a
political
party
of
a
foreign
adversary;
23
(iii)
A
partnership,
association,
corporation,
organization,
or
24
other
combination
of
persons
organized
under
the
laws
of
or
having
25
its
principal
place
of
business
in
a
foreign
adversary,
or
a
sub
-
26
sidiary
of
such
entity,
owned
or
controlled
wholly
or
in
part
by
27
any
person,
entity,
or
collection
of
persons
or
entities
of
a
for
-
28
eign
adversary;
29
(iv)
Any
person
who
is
domiciled
in
a
foreign
adversary
and
is
not
30
a
citizen
or
lawful
permanent
resident
of
the
United
States;
and
31
(v)
Any
person,
entity,
or
collection
of
persons
or
entities
de
-
32
scribed
in
this
paragraph
having
a
controlling
interest
in
a
part
-
33
nership,
association,
corporation,
organization,
trust,
or
any
34
other
legal
entity
or
subsidiary
formed
for
the
purpose
of
owning
35
real
property.
36
(h)
"Mineral
right"
shall
have
the
same
meaning
as
provided
in
section
37
47
-
701,
Idaho
Code.
38
(i)
"Mining
claim"
means
a
portion
of
land
containing
minerals
that
a
39
miner
has
a
right
to
occupy
and
possess
for
the
purpose
of
extracting
40
minerals.
41
(j)
"State
-
controlled
enterprise"
means
a
business
enterprise,
how
-
42
ever
denominated,
sovereign
wealth
fund,
or
state
-
backed
investment
43
fund
in
which
a
foreign
government
has
a
controlling
interest.
44
(k)
"Water
right"
shall
have
the
same
meaning
as
provided
in
section
45
42
-
230,
Idaho
Code.
46
(4)(a)
(18)(a)
The
attorney
general
shall
investigate
acquisitions
of
47
interests
in
real
property
reasonably
suspected
of
violating
the
prohi
-
48
bitions
provided
for
in
subsection
(2)
of
this
section
upon
receipt
of
a
49
complaint
alleging
such
violation.
50
6
(b)
The
attorney
general
shall
enforce
the
prohibitions
provided
for
1
in
subsection
(2)
of
this
section
for
any
interest
in
land,
rights,
or
2
claims
held
in
violation
of
the
provisions
of
subsection
(2)
of
this
3
section
by
petitioning
the
district
court
for
an
order
and
judgment
4
that:
finds
such
violation;
appoints
a
receiver;
and
authorizes
the
5
receiver
to
sell
such
land,
rights,
or
claims.
For
a
receivership
pro
-
6
ceeding
under
this
section:
7
(i)
Proceeds
of
the
sale
shall
be
disbursed
to
lienholders,
in
8
order
of
priority,
except
for
liens
that,
under
the
terms
of
the
9
sale,
are
to
remain
on
the
land,
rights,
or
claims;
10
(ii)
At
the
receivership
sale,
lienholders
shall
be
permitted
to
1
1
have
a
credit
bid;
and
12
(iii)
Any
excess
proceeds
shall
be
disbursed
to
the
owner
of
record
13
of
the
real
property.
14
(c)
Upon
the
commencement
of
an
action
provided
for
in
this
section,
the
15
attorney
general
shall
promptly
file
a
notice
of
lis
pendens
with
the
16
court.
17
(d)
Upon
the
entry
of
a
court
order
appointing
a
receiver
and
authoriz
-
18
ing
the
receiver's
powers
to
sell
the
property
pursuant
to
the
provi
-
19
sions
of
this
section,
the
attorney
general
shall
promptly
record
a
copy
20
of
the
court
order
in
the
office
of
the
county
where
the
property
is
lo
-
21
cated
that
is
responsible
for
the
maintenance
of
property
records.
22
(e)
No
title
to
land,
rights,
or
claims
shall
be
invalid
or
subject
to
23
divestiture
due
to
a
violation
of
the
provisions
of
this
section
by
any
24
former
owner
or
other
individual
or
entity
having
formerly
held
or
owned
25
an
interest
in
the
real
property.
26
(f)
Divestiture
of
a
foreign
government's
or
foreign
state
-
controlled
27
enterprise's
title
under
this
section
shall
not
be
a
basis
to
void,
28
invalidate,
or
otherwise
extinguish
any
bona
fide
mortgage,
lien,
or
29
other
interest
granted
by,
through,
or
under
the
foreign
government
or
30
foreign
state
-
controlled
enterprise.
31
(g)
No
person
or
entity
that
is
not
a
foreign
government
or
a
foreign
32
state
-
controlled
enterprise
shall
bear
any
civil
or
criminal
liability
33
for
failing
to
determine
or
to
make
an
inquiry
about
whether
an
indi
-
34
vidual
or
other
entity
is
a
foreign
government
or
a
foreign
state
-
con
-
35
trolled
enterprise.
36
SECTION
3.
An
emergency
existing
therefor,
which
emergency
is
hereby
37
declared
to
exist,
this
act
shall
be
in
full
force
and
effect
on
and
after
38
July
1,
2026.
39