Senate Bill 1301, Changes to Idaho’s Credit Union Act, Moves Through House Business

Posted by Zach Forster on March 15, 2024

Earlier this week, Senate Bill 1301, changes to Idaho’s credit union act, passed out of the House Business Committee unanimously. There was a good discussion in committee about  some of the definitions we are adding and why are we doing it now. More specifically, the term Risk Assets was one legislators fixated on. Prior to the hearing we had spoken with them and they brought these concerns up, but it had little to do with the state of Idaho’s credit unions, rather, more to do with regional bank failures over the last 24 months and if that had any impact to Idaho’s credit unions. In the end, it was much ado about nothing, and SB 1301 was passed out of committee unanimously.

It was put on the 2nd reading calendar yesterday during the afternoon House floor session. It will move to the 3rd reading calendar this morning and will most likely be debated early next week. We do not anticipate much (if any) debate to occur and has zero opposition.

Earlier this year, leadership in both the House and the Senate set a projected Sine Die (adjournment) date of March 22nd. We do know that they will not hit that date. It is now anticipated that the legislature will adjourn the following Friday, March 29th. Again, this is a moving date, and one that could be extended if need be. Stay tuned.

Posted in Advocacy on the Move, Idaho Advocacy.