Idaho Bills
3 bills · 2026 Regular Session
Adds to existing law to establish the Financial Accountability Stablecoin Transaction (FAST) Act to provide for the authorization and use of payment stablecoins.
RS33717 / H0901 This legislation establishes the Financial Accountability Stablecoin Transaction (FAST) Act in Title 67, Idaho Code, to authorize the optional use of certain federally qualified and public purpose-qualified payment stablecoins for state vendor and contractor payments. The act aligns Idaho law with the federal GENIUS Act, which governs payment stablecoins, including issuer qualifications, reserve requirements, and consumer protections. The bill directs the state treasurer to maintain and publish a list of authorized payment stablecoins, establish compliance and risk management procedures, and submit an annual report by December 15, 2027, to the Legislature detailing authorized stablecoins, transaction volumes, and estimated fiscal impacts. Vendors and contractors may elect, but are not required, to receive payment using an authorized payment stablecoin. The purpose of the act is to improve payment efficiency, reduce transaction costs, enhance transparency and auditability, and promote competition and innovation in financial infrastructure, while preserving legislative oversight and compliance with federal and state law.
Dustin Manwaring · HD-029A
Adds to existing law to establish the Financial Accountability Stablecoin Transaction (FAST) Act to provide for the authorization and use of payment stablecoins.
This legislation establishes the Financial Accountability Stablecoin Transaction (FAST) Act in Title 67, Idaho Code, to authorize the optional use of certain federally qualified and public purpose-qualified payment stablecoins for state vendor and contractor payments. The act aligns Idaho law with the federal GENIUS Act, which governs payment stablecoins, including issuer qualifications, reserve requirements, and consumer protections. The bill directs the state treasurer and state controller, acting jointly, to maintain and publish a list of authorized payment stablecoins, establish compliance and risk management procedures, and submit an annual report to the Legislature detailing authorized stablecoins, transaction volumes, and estimated fiscal impacts. Vendors and contractors may elect, but are not required, to receive payment using an authorized payment stablecoin. The purpose of the act is to improve payment efficiency, reduce transaction costs, enhance transparency and auditability, and promote competition and innovation in financial infrastructure, while preserving legislative oversight and compliance with federal and state law
Dustin Manwaring · HD-029A
Adds to existing law to establish the Financial Accountability Stablecoin Transaction (FAST) Act to provide for the authorization and use of payment stablecoins.
RS33782 / S1423 This legislation establishes the Financial Accountability Stablecoin Transaction (FAST) Act in Title 67, Idaho Code, to allow the State of Idaho to modernize how it sends payments to vendors and contractors. Under current law, the state relies on traditional banking systems such as Automated Clearing House (ACH), which can take multiple days to settle payments and often carry unnecessary transaction costs. This bill provides an additional, optional payment rail that allows for near-instant settlement using fully reserved, federally regulated payment stablecoins. The bill aligns Idaho law with the federal GENIUS Act framework, ensuring that only qualified stablecoins meeting strict reserve, audit, and consumer protection standards are eligible for use. The Idaho Department of Finance will compile and maintain a list of approved providers based on these federal standards and risk criteria. Participation is entirely voluntary. Vendors and contractors may choose to receive payment through this method, but no one is required to use it. The state is not required to hold or retain digital assets and would only use this system as a transactional payment tool. This legislation is designed to improve payment speed, reduce transaction costs, and increase transparency and auditability in state financial operations. It also ensures Idaho remains aligned with broader financial modernization efforts already underway in both the federal government and the private banking sector.
Kelly Anthon · SD-027
22 – 13