This bill prohibits foreign persons from purchasing or acquiring controlling interests in single-family homes in Idaho starting July 1, 2026, and also restricts foreign governments and state-controlled enterprises from owning certain types of land like agricultural and forest land. It defines "foreign persons" to include non-U.S. citizens, foreign corporations, foreign governments, and various business entities acting on their behalf, while exempting U.S. citizens and legal residents. If a foreign person acquires a restricted property after the effective date, they must sell it within 180 days, and the attorney general can initiate legal action to force a sale through judicial foreclosure if they do not comply. The bill also establishes a whistleblower program that allows individuals to report violations and receive a 30% reward from the proceeds of any forced property sales, while protecting those who do not investigate foreign ownership status from liability.
This bill prohibits institutional investors, such as corporations and LLCs, from purchasing single-family homes in Idaho starting July 1, 2026, with the goal of keeping homes in the hands of individual Idaho citizens. The law defines institutional investors as profit-seeking entities with multiple members and excludes home builders, family trusts, and nonprofits from this restriction. If an institutional investor acquires a single-family home after the effective date, they must sell the property within 180 days or face judicial foreclosure proceedings initiated by the state attorney general. The bill also includes provisions protecting individuals from liability when determining whether a buyer qualifies as an institutional investor.
