Bill
Bill > H0821
ID H0821
ID H0821Adds to existing law to establish the Financial Accountability Stablecoin Transaction (FAST) Act to provide for the authorization and use of payment stablecoins.
summary
Introduced
03/04/2026
03/04/2026
In Committee
03/05/2026
03/05/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
RELATING TO THE FAST ACT; AMENDING TITLE 67, IDAHO CODE, BY THE ADDITION OF A NEW CHAPTER 83, TITLE 67, IDAHO CODE, TO PROVIDE A SHORT TITLE, TO PRO- VIDE A DECLARATION OF NECESSITY, TO DEFINE TERMS, TO PROVIDE FOR A LIST OF AUTHORIZED PAYMENT STABLECOINS, REQUIRE A CERTAIN REPORT, AND PRO- VIDE FOR CERTAIN LEGISLATIVE AUTHORITY, TO PROVIDE FOR STATE USE OF AU- THORIZED PAYMENT STABLECOINS, AND TO PROVIDE FOR INTERSTATE COORDINA- TION; PROVIDING SEVERABILITY; AND DECLARING AN EMERGENCY AND PROVIDING AN EFFECTIVE DATE.
AI Summary
This bill, known as the Financial Accountability Stablecoin Transaction (FAST) Act, aims to authorize and regulate the use of payment stablecoins, which are digital currencies pegged to a stable asset like the U.S. dollar, for state government transactions in Idaho. It establishes criteria for "authorized payment stablecoins," which must either be "GENIUS-qualified" (meeting federal standards outlined in the hypothetical "GENIUS Act" for issuer qualifications, reserve backing, and consumer protections) or "public purpose-qualified" (issued by a U.S. state with similar backing and providing a public benefit to Idaho). The State Treasurer will maintain and publish an annual list of these authorized stablecoins, report on their usage, cost savings, and benefits to the legislature, and establish procedures for risk assessment and compliance. The state and its controller may use these authorized stablecoins for payments to vendors and contractors, though vendors are not required to accept them, and will receive disclosures about associated risks before opting in. The bill also allows for interstate coordination and cooperation regarding the use of public purpose-qualified stablecoins.
Committee Categories
Business and Industry
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Ways and Means Committee (House)
Last Action
Reported Printed and Referred to Business (on 03/05/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2026/legislation/H0821/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2026/legislation/H0821.pdf |
| Fiscal Note/Analysis - Statement of Purpose / Fiscal Note | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2026/legislation/H0821SOP.pdf |
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