House Bill 399 — Collection agencies

House Bill 399 — Collection agencies

by
Parrish Miller
February 6, 2020
Parrish Miller
February 6, 2020

Bill description: HB 399 amends the Idaho Collection Agency Act to add references to the "nationwide mortgage licensing system and registry" and increase license fees.

Rating: -2

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?

HB 399 amends Section 26-2222, Idaho Code, to define the "nationwide mortgage licensing system and registry" or NMLSR as "a licensing system for all entities required to be licensed under this chapter developed and maintained by the conference of state bank supervisors and the American association for residential mortgage regulators." HB 399 amends other sections of the Idaho Collection Agency Act to require that license application be conducted "through the NMLSR". This change places Idahoans working in this industry under the jurisdiction of an entity not under the control or purview of the Idaho Legislature.

(-1)

HB 399 amends Sections 26-2224 and 26-2227, Idaho Code, to remove the requirement that applicants for a license must name and retain a "natural person with three (3) years of experience related to the type of business conducted by the licensee under this act to supervise each office from which business activities are conducted under this act."

(+1)

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?

HB 399 amends Section 26-2224, Idaho Code, to increase the nonrefundable license application fee from $150 to $350, an increase of 133%.

(-1)

HB 399 amends Section 26-2231, Idaho Code, to increase license renewal fees from $100 to $150, an increase of 50%.

(-1)

HB 399 amends Sections 26-2224, Idaho Code, to mandate that "a separate license shall be required for each additional place of business from which any business activities authorized under this chapter are directly or indirectly conducted." Requiring each branch to obtain a separate license is a de facto fee increase for any business maintaining multiple branches.

(-1)

HB 399 amends Sections 26-2240, Idaho Code, to remove a quarterly reporting requirement and an associated $20 fee.

(+1)

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