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Senate Bill 1401 – State Treasurer, Appropriations FY25

Senate Bill 1401 – State Treasurer, Appropriations FY25

Niklas Kleinworth
March 5, 2024

The Idaho Spending Index serves to provide a fiscally conservative perspective on state budgeting while providing an unbiased measurement of how Idaho lawmakers apply these values to their voting behavior on appropriations bills. Each bill is analyzed within the context of the metrics below. They receive one (+1) point for each metric that is satisfied by freedom-focused policymaking and lose one (-1) point for each instance in which the inverse is true. The sum of these points composes the score for the bill.

Analyst: Niklas Kleinworth

Rating: 0

Bill Description: Senate Bill 1401 appropriates $5,174,500 and 30.00 full-time positions to the State Treasurer for fiscal year 2025.

Is the maintenance budget inappropriate for the needs of the state, the size of the agency, or the inflationary environment of the economy? Conversely, is the maintenance budget appropriate given the needs of the state and economic pressures?

This legislation confirms the maintenance budget for the State Treasurer of $4,956,800, growing from the base by 0.2% over the last three years. This rate demonstrates virtually zero growth in the cost to maintain the agency.


Does the budget grow government through the addition of new permanent FTPs or through funding unlegislated efforts to create new or expanded entitlement programs? Conversely, does this budget reduce the size of government staff and programs except where compelled by new legislation?

Senate Bill 1401 contains one line item request for two additional unclaimed property agents. This is half of what the agency originally requested. However, this request marks growth in the size of the permanent staff and ongoing expenses.

The State Treasurer’s Office cites a substantial increase in the number of unclaimed property cases that need investigation and processing. However, JFAC noted during budget setting that these numbers were inflated due to a viral video related to the matter. The numbers are elevated but are returning to normal levels, indicating it may not be necessary to expand the staff at this time.


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