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H 448

APPROPRIATIONS – DEPARTMENT OF FINANCE – Relates to the appropriation to the Department of Finance for fiscal year 2026.

68th Legislature, 1st Regular Session (2025)

House Bill 448 allocates $642,800 to the Idaho Department of Finance, adding 4 new positions to enhance oversight of financial institutions and consumer protection.

Reported Signed by Governor on April 2, 2025 Session Law Chapter 265 Effective: 07/01/2025
#appropriations #finance
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Bill Summary · H 448

Summary of House Bill 448 (H 448)

Overview

House Bill 448 (H 448) is an appropriation bill that allocates additional funding to the Idaho Department of Finance for the fiscal year 2026. The bill was introduced on March 25, 2025, and was signed by the Governor on April 2, 2025, with an effective date of July 1, 2025.

Purpose and Intent

The primary intent of H 448 is to enhance the maintenance budget of the Department of Finance. This includes funding for new personnel and IT replacement items aimed at improving the department's operational capabilities.

Key Provisions

  • Funding Allocation: The bill appropriates a total of $642,800 to the Department of Finance, which includes:

    • Personnel Costs: $556,000
    • Operating Expenditures: $20,000
    • Capital Outlay: $66,800

  • Full-Time Equivalent Positions: The bill authorizes an increase of four (4.00) full-time equivalent (FTE) positions within the department. These positions include:

    • Financial Institutions IT Examiner
    • Financial Institutions Examiner
    • Financial Examiner Investigator 3 (Consumer Finance Bureau)
    • Financial Examiner with a Forensic Accounting Specialty

  • Enhancements: The bill includes enhancements to the maintenance budget that will support the hiring of the aforementioned positions, which are critical for the department's oversight of financial institutions.

Fiscal Impact

  • The total budget for the Department of Finance for FY 2026 will be $11,875,400, reflecting an increase of $839,100 (approximately 7.6%) from the previous fiscal year.
  • The ongoing increase in funding is $581,000, while a one-time increase is $66,800.

Affected Parties

The bill will primarily affect the Idaho Department of Finance, enhancing its capacity to regulate financial institutions and improve consumer finance oversight. The addition of new personnel is expected to bolster the department's effectiveness in these areas.

Procedural Timeline

  • March 25, 2025: Bill introduced and referred to the Joint Finance-Appropriations Committee.
  • March 27, 2025: Reported out of committee with a do-pass recommendation.
  • March 31, 2025: Passed in the House with a vote of 43-26.
  • April 1, 2025: Passed in the Senate and returned to the House.
  • April 2, 2025: Signed by the Governor and filed as Session Law Chapter 265.

Conclusion

House Bill 448 is a significant legislative measure aimed at enhancing the operational capacity of the Idaho Department of Finance through additional funding and personnel. The bill reflects a commitment to improving financial oversight and consumer protection within the state.

Compiled from official sources — confirm details with the bill’s official record.

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