Bulletin: ID2014001

Date:
August 05, 2014
To:
All Idaho Issuing Offices
RE:
LEGISLATIVE UPDATE - Idaho Legislation 2014

Dear Associates:

The following is a summary of legislation that was passed in the 2014 legislative session. Overall, it was a very quiet session as far as our industry was concerned. There were a number of bills filed that would have had a direct impact on our industry but the bills did not pass. Below is the bill that passed that may be of interest.

H.B. 584 Homestead Exemptions (amends I.C.A. 63-602G Property Exempt from Taxation). A homestead which previously qualified for exemption shall not lose the qualification due to the owner’s, beneficiary’s, partner’s, member’s or shareholder’s absence due to active military service provided an application for the exemption is made every year on or before the date established by the county assessor. If the annual application is not made before the deadline, the county may, at its discretion, discontinue the exemption for that year.

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THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None