MONEY OF ACCOUNT AND INTEREST – Adds to existing law to provide for interest rates to be allowed by agreement subject to certain limitations.

This bill (H 649) sets maximum interest rates for private written loan agreements in Idaho. It allows parties to agree on any rate not exceeding the higher of 30% or 10 percentage points above the Federal Reserve's published prime rate. The law applies to standard loans between individuals or businesses (not regulated lenders like banks), ensuring agreements made without usury remain valid unless substantially changed. It takes effect July 1, 2026.