Legislation/Guidance in Effect
|
Title |
Key Dates |
Nature of |
ESG Category |
|
| HB56: Relating to Public Works to Revise a Provision Regarding Competitive Bidding |
Effective Date 7/1/2025 Introduced 1/24/2025 |
Legislation | Prohibit Discrimination on Basis of Social Credit or ESG Scores | ■ Amends existing law to revise a provision regarding competitive bidding. No bid submitted pursuant to this section shall be accepted or denied based on ESG standards. For purposes of this act, ESG standards means procurement standards that screen or score bids, in whole or in part, on subjective ethical or sustainability criteria unrelated to the specifications in a solicitation or the qualifications of a bidder. |
| S1291: Prohibition on Contracts with Companies Boycotting Certain Sectors |
Effective Date 7/1/2024 Adopted 3/25/2024 Introduced 2/7/2024 |
Legislation | Target Entities That Boycott Certain Industries |
■ Prohibits public entities from entering into a contract with a company for goods or services unless the contract contains a written certification from the company that it is not currently engaged in, and will not for the duration of the contract engage in, a boycott of any individual or company because the individual or company: (a) engages in or supports the exploration, production, utilization, transportation, sale, or manufacture of fossil fuel-based energy, timber, minerals, hydroelectric power, nuclear energy, or agriculture; or (b) engages in or supports the manufacture, distribution, sale, or use of firearms. ■ Applies only to contracts: between a public entity and company that has 10+ full-time employees and a value of $100,000+ to be paid at least in part from public funds. |
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Effective date |
Legislation |
Target Entities That Boycott Certain Industries |
■ Requires credit union, banking corporations, and national banking associations designated as a state depository and holding any deposit of the state funds, on or before beginning to hold such deposits, file with State Treasurer an affidavit containing a certification that the financial institution is not currently engaged in and will not for the duration of the designation in a boycott of any individual or company based on engagement in or support of the fossil fuel, timber, minerals, hydroelectric power, nuclear energy, agriculture, or firearm industries. |
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|
Effective date |
Legislation |
Prohibit Discrimination on Basis of Social Credit or ESG Scores |
■ Requires that no contract be accepted or denied by a public entity based on ESG standards. This is limited to contracts that have a value of $100,000 or more to be paid at least in part from public funds. |
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|
Effective date |
Legislation |
Restrict Use of ESG Factors; Focus on Pecuniary Characteristics |
■ Prohibits public entities engaged in investment activities from considering ESG characteristics in a manner that could override the prudent investor rule. Allows public entities to offer ESG-preferred investments only if the investments are optional and if sufficient alternatives are offered. ■ Public entities must require investment agents to provide notification if the investment agent adopts a policy or revises a policy related to "disfavored investments" applicable to the public entity's investment. A "disfavored investment" includes investments or investment limitations identified as against the public policy or the state of Idaho by statute, concurrent resolution, or executive order." |
Pending Legislation
|
Title |
Key Dates |
Nature of |
ESG Category |
|
| HB296: Adds to existing law to require certain governmental entities in Idaho to divest from investments in foreign adversaries. | Introduced 2/21/2025 |
Legislation | Promote Divestment from Certain Countries |
■ The bill prohibits all state-managed funds from holding investments in any foreign adversary, state-owned enterprise of a foreign adversary, company domiciled within a foreign adversary, or company owned or controlled by a foreign adversary, state-owned enterprise of a foreign adversary, company domiciled within a foreign adversary, or any other entity within a foreign adversary (i.e., People's Republic of China, Iran, North Korea, Russian Federation and the Venezuelan regime of Nicolas Maduro). ■ All state-managed funds shall immediately in good faith begin divestment of any holdings prohibited by the bill and shall complete total divestment of all such prohibited holdings no later than June 30, 2026. ■ No later than January 1, 2026, the state treasurer investment advisory board shall investigate and identify all companies that are state-owned enterprises of, are domiciled within, the primary affairs of which are conducted within, or the majority ownership shares of which is held within a foreign adversary and include those companies in a list of restricted companies to be distributed to each state-managed fund. ■ The bill prohibits all state-managed funds from investing or depositing public funds in any bank that is domiciled or has its principal place of business in a foreign adversary. |
| SB1027: Transparency in Financial Services | Introduced 1/27/2025 |
Legislation | Prohibit Discrimination on Basis of Social Credit or ESG Scores | ■ Prohibits large financial institutions from discriminating against customers based on their political or religious views. It applies only to banks with assets over $100 billion or payment processing companies that process over $100 billion per year. Institutions would be prohibited from using social credit scores or any nonfinancial criteria. Social credit scores do not include assessing financial risks based on impartial and quantifiable financial risk-based standards. If a customer is denied access to financial services, he or she has the right to request the reason for the denial from the financial institution. |
| H0669: Equality in Financial Services Act | Introduced 2/27/2024 |
Legislation | Prohibit Discrimination on Basis of Social Credit or ESG Scores | ■ Prohibits financial institutions from discriminating in the provision of financial services, including utilizing a social credit score to directly or indirectly decline to provide full and equal enjoyment in the provision of financial services to a person.
■Customers may request a statement of specific reason within 90 days after receiving notice of a refusal to provide, termination of, or restriction on financial services. |
Past/Inactive Legislation
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Title |
Key Dates |
Nature of |
ESG Category |
|
| HJM7: Expresses concern over the influence of the United Nations and the World Economic Forum in Idaho | Introduced 2/13/2024 but failed to pass | Request for Action | Prohibit Discrimination on Basis of Social Credit or ESG Scores |
■ Addressed to the Governor, the U.S. President, and the Idaho Congressional delegation, House Joint Memorial 7 (HJM7) is a request for action (therefore, it does not carry the weight of law) submitted by the House's State Affairs Committee to address concern over proposals supported by the United Nations and the World Economic Forum, including, among other things: (i) the imposition of ESG, or environmental, social, and corporate governance, requirements on businesses that increase regulations, raise costs, and reduce economic freedom for entrepreneurs and businesses; and (ii) the concept of social credit, akin to a credit score for social behaviors, that HJM7 describes as giving the government undue control over individuals' daily lives and punishing those who dissent or hold differing views. ■ HJM7 affirms Idaho's dedication to sovereignty and self-determination, voices concerns about international organizations undermining the state's core values, calls for comprehensive review of agreements and emphasizes commitment to international cooperations while safeguarding citizens' rights. |
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Introduced, but did not pass in the 2023 legislative session |
Legislation |
Target Entities That Boycott Certain Industries |
■ Prohibits a public entity from entering into a contract with a company for goods or services unless the contract contains a written verification from the company that it is not currently engaged in, and will not for the duration of this contract engage in, a boycott of any individual or company based on engagement in or support of the fossil fuel, timber, minerals, hydroelectric power, nuclear energy, agriculture, or firearm industries. |
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Introduced, but did not pass in the 2022 legislative session |
Legislation |
Target Entities That Boycott Certain Industries |
■ Prohibits contracting with and investing in companies that boycott mining, energy production, production agriculture, or commercial lumber production companies. |
