STATE ASSETS – Amends and adds to existing law to revise provisions regarding who may own certain property, to provide for prohibition on lease or purchase of certain land or dwellings, and to provide for prohibition on access to state assets.

Idaho's H 12 restricts foreign entities from certain countries (including China, Russia, and Iran) from purchasing or owning farmland, forest land, water rights, mining claims, or mineral rights near military bases or sensitive state assets. It requires existing foreign-owned agricultural land to be divested within 180 days, mandates registration with the state agriculture department, and creates a whistleblower reward system (30% of sale proceeds) for reporting violations. The law directly affects foreign governments, state-controlled enterprises, and "foreign adversaries" defined in the bill, excluding pre-existing holdings and foreign pension funds. Key provisions include a 5% ownership exception for publicly traded companies and penalties including judicial foreclosure for non-compliance.