Amends and repeals existing law to remove obsolete provisions.

LEGISLATURE OF THE STATE OF IDAHO Sixty-eighth Legislature Second Regular Session - 2026 IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 773 BY WAYS AND MEANS COMMITTEE AN ACT1 RELATING TO THE DEPARTMENT OF FINANCE; PROVIDING LEGISLATIVE INTENT; AMEND-2 ING SECTION 26-2128, IDAHO CODE, TO REMOVE AN OBSOLETE PROVISION; RE-3 PEALING SECTION 26-2170, IDAHO CODE, RELATING TO DEFINITIONS, PURPOSE,4 AND RESTRICTIONS OF THE IDAHO CORPORATE CREDIT UNION; REPEALING SECTION5 26-2171, IDAHO CODE, RELATING TO ORGANIZATION OF THE IDAHO CORPORATE6 CREDIT UNION; REPEALING SECTION 26-2172, IDAHO CODE, RELATING TO AMEND-7 MENTS OF THE IDAHO CORPORATE CREDIT UNION; REPEALING SECTION 26-2173,8 IDAHO CODE, RELATING TO CORPORATE POWERS OF THE IDAHO CORPORATE CREDIT9 UNION; REPEALING SECTION 26-2174, IDAHO CODE, RELATING TO MEMBERSHIP10 IN THE IDAHO CORPORATE CREDIT UNION; REPEALING SECTION 26-2175, IDAHO11 CODE, RELATING TO EXPULSION AND WITHDRAWAL FROM THE FIELD OF MEMBERSHIP12 OF THE IDAHO CORPORATE CREDIT UNION; REPEALING SECTION 26-2176, IDAHO13 CODE, RELATING TO MEETINGS AND ELECTIONS OF THE IDAHO CORPORATE CREDIT14 UNION; REPEALING SECTION 26-2177, IDAHO CODE, RELATING TO THE BOARD15 OF DIRECTORS OF THE IDAHO CORPORATE CREDIT UNION; REPEALING SECTION16 26-2178, IDAHO CODE, RELATING TO OFFICERS OF THE IDAHO CORPORATE CREDIT17 UNION; REPEALING SECTION 26-2179, IDAHO CODE, RELATING TO THE BOARD18 OF DIRECTORS OF THE IDAHO CORPORATE CREDIT UNION; REPEALING SECTION19 26-2180, IDAHO CODE, RELATING TO LOANS TO MEMBER CREDIT UNIONS BY THE20 IDAHO CORPORATE CREDIT UNION; REPEALING SECTION 26-2181, IDAHO CODE,21 RELATING TO COMPENSATION FOR CORPORATE OFFICERS; REPEALING SECTION22 26-2182, IDAHO CODE, RELATING TO SHARES AND DEPOSITS; REPEALING SECTION23 26-2183, IDAHO CODE, RELATING TO RESERVE ALLOCATIONS OF THE IDAHO COR-24 PORATE CREDIT UNION; REPEALING SECTION 26-2184, IDAHO CODE, RELATING25 TO DIVIDENDS OF THE IDAHO CORPORATE CREDIT UNION; REPEALING SECTION26 26-2185, IDAHO CODE, RELATING TO APPLICABLE PROVISIONS OF THE IDAHO27 CREDIT UNION ACT; REPEALING SECTION 26-2186, IDAHO CODE, RELATING TO28 TAXATION OF THE IDAHO CORPORATE CREDIT UNION; REPEALING SECTION 27-406,29 IDAHO CODE, RELATING TO THE DUTY OF AN OWNER OF A CEMETERY; REPEALING30 SECTION 27-409, IDAHO CODE, RELATING TO CEMETERIES AND APPLICATION OF31 LAW; AND DECLARING AN EMERGENCY AND PROVIDING AN EFFECTIVE DATE.32

Be It Enacted by the Legislature of the State of Idaho:33

SECTION 1. IDAHO CODE CLEANUP -- LEGISLATIVE INTENT. It is the intent34 of the Legislature to ensure that the state laws provided in Idaho Code are35 streamlined, up-to-date, and essential for the citizens of Idaho, while best36 serving the public health, safety, and welfare. In accordance with the Idaho37 Code Cleanup Act, following comprehensive review, the Legislature has iden-38 tified the provisions of this act as obsolete, outdated, or unnecessary.39

SECTION 2. That Section 26-2128, Idaho Code, be, and the same is hereby40 amended to read as follows:41

2 26-2128. LIQUIDITY REQUIREMENTS. (a) Every credit union shall have1 on hand as a liquidity reserve an amount equal to four percent (4%) of its2 outstanding shares, certificates of deposit, and certificates of indebted-3 ness. Share or deposit accounts from which a member may withdraw funds by4 the use of a negotiable instrument shall be subject to the liquidity reserve5 requirements of subsection (b) of this section and not to the liquidity re-6 serve requirements of this subsection. Said liquidity reserves, except as7 hereinafter otherwise provided, shall be kept in cash on hand or on deposit8 subject to check or draft, with any bank or banks or corporate credit union9 located in the state of Idaho, which shall have been approved by the director10 as liquidity reserve depositories and shall be computed monthly as follows:11 on the basis of average daily bank deposits and average daily cash on hand.12 (b) Every credit union which provides for its member's share or deposit13 accounts from which the member may withdraw funds by the use of negotiable14 instrument shall have on hand as a liquidity reserve in addition to the liq-15 uidity reserve required by subsection (a) of this section an amount equal16 to ten percent (10%) of its share and deposit accounts which are subject to17 withdrawal by the use of negotiable instrument. Said liquidity reserves18 shall be kept in cash on hand or on deposit subject to check or draft, with any19 bank or banks or corporate credit union located in the state of Idaho which20 shall have been approved by the director as liquidity reserve depositories21 and shall be computed monthly as follows: on the basis of average daily bank22 or corporate credit union deposits, and average daily cash on hand.23 (c) Certificates of deposit issued by the Idaho Corporate Credit Union24 may be included in meeting the requirements of this section. To the extent a25 credit union is required to maintain reserves pursuant to the monetary con-26 trol act of 1980 and the implementing regulations of the board of governors27 of the federal reserve system, as the same is presently enacted and as it may28 be amended in the future, the reserves required to be so maintained shall be29 considered as a part of, and not in addition to, the liquidity reserves re-30 quired by this section.31

SECTION 3. That Section 26-2170, Idaho Code, be, and the same is hereby32 repealed.33

SECTION 4. That Section 26-2171, Idaho Code, be, and the same is hereby34 repealed.35

SECTION 5. That Section 26-2172, Idaho Code, be, and the same is hereby36 repealed.37

SECTION 6. That Section 26-2173, Idaho Code, be, and the same is hereby38 repealed.39

SECTION 7. That Section 26-2174, Idaho Code, be, and the same is hereby40 repealed.41

SECTION 8. That Section 26-2175, Idaho Code, be, and the same is hereby42 repealed.43

SECTION 9. That Section 26-2176, Idaho Code, be, and the same is hereby44 repealed.45

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SECTION 10. That Section 26-2177, Idaho Code, be, and the same is hereby1 repealed.2

SECTION 11. That Section 26-2178, Idaho Code, be, and the same is hereby3 repealed.4

SECTION 12. That Section 26-2179, Idaho Code, be, and the same is hereby5 repealed.6

SECTION 13. That Section 26-2180, Idaho Code, be, and the same is hereby7 repealed.8

SECTION 14. That Section 26-2181, Idaho Code, be, and the same is hereby9 repealed.10

SECTION 15. That Section 26-2182, Idaho Code, be, and the same is hereby11 repealed.12

SECTION 16. That Section 26-2183, Idaho Code, be, and the same is hereby13 repealed.14

SECTION 17. That Section 26-2184, Idaho Code, be, and the same is hereby15 repealed.16

SECTION 18. That Section 26-2185, Idaho Code, be, and the same is hereby17 repealed.18

SECTION 19. That Section 26-2186, Idaho Code, be, and the same is hereby19 repealed.20

SECTION 20. That Section 27-406, Idaho Code, be, and the same is hereby21 repealed.22

SECTION 21. That Section 27-409, Idaho Code, be, and the same is hereby23 repealed.24

SECTION 22. An emergency existing therefor, which emergency is hereby25 declared to exist, this act shall be in full force and effect on and after26 July 1, 2026.27