Bill Description: Senate Bill 1119 would create new licensing requirements and associated regulations for providers of "earned wage access services" in Idaho.
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Does it give government any new, additional, or expanded power to prohibit, restrict, or regulate activities in the free market? Conversely, does it eliminate or reduce government intervention in the market?
Senate Bill 1119 would create Chapter 38, Title 26, Idaho Code, to define and regulate providers of "earned wage access services" in Idaho. These services would be defined as "providing consumer-directed wage access services or employer-integrated wage access services, or both."
Among the regulations imposed by this act would be a requirement that "each licensee shall file with the director [of the department of finance] an annual report, in a form prescribed by the director." The bill includes a variety of other reporting requirements as well.
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Does it increase barriers to entry into the market? Examples include occupational licensure, the minimum wage, and restrictions on home businesses. Conversely, does it remove barriers to entry into the market?
Senate Bill 1119 would require providers of earned wage access services to obtain a license "in accordance with the provisions of this chapter."
Current providers would be required to "apply for a license in accordance with the provisions of this chapter within six (6) months of the date that the department makes an application available to potential applicants."
Occupational licensing mandates are a government-created barrier to market entry.
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Does it directly or indirectly create or increase any taxes, fees, or other assessments? Conversely, does it eliminate or reduce any taxes, fees, or other assessments?
Senate Bill 1119 would impose a "nonrefundable application fee" of $350 on prospective licensees. It would also require licensees to pay an annual "nonrefundable license renewal fee" of $150. If a license was inadvertently allowed to lapse, a licensee could apply for reinstatement within 60 days following the expiration, but would have to pay both the $150 renewal fee and a $200 "reinstatement fee."
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Does it directly or indirectly create or increase penalties for victimless crimes or non-restorative penalties for non-violent crimes? Conversely, does it eliminate or decrease penalties for victimless crimes or non-restorative penalties for non-violent crimes?
Senate Bill 1119 would impose financial penalties of up to $1,000 per violation or $1,000 per day for a continuing violation of any of the provisions of this new law.
An additional fine of up to $1,000 could be imposed to cover the "actual costs" whenever the director of the Idaho Department of Finance "examines a licensee within this state" in response to a complaint or suspected violation.
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