Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Workforce Housing Finance topic
No spam. Unsubscribe anytime.
Treasurer briefs committee on workforce housing pass‑through, unclaimed property rules and small cybersecurity ask
Summary
The State Treasurer described a governor recommended $15 million general fund transfer to the workforce housing fund to provide gap financing via Idaho Housing and Finance Association, summarized prior $50 million pass‑through awards and outlined an unclaimed property rule that excess funds above $500,000 revert to the general fund.
Idaho State Treasurer Julie Ellsworth and staff briefed the Joint Finance‑Appropriations Committee on the treasurer’s office budget and a governor recommendation to transfer $15 million from the general fund to the Workforce Housing Fund to support workforce housing gap financing.
Budget analyst Christopher Lahoset summarized the treasurer’s role as custodian of state funds and the public school endowment, noting a recent history of a $50 million supplemental passed in 2022 that was later passed through to the Idaho Housing and Finance Association (IHFA) to provide gap financing. IHFA representative Brady Ellis told the committee those earlier awards were structured as loans and are intended to revolve — repaid funds return to a loan fund to be re‑used for future projects.
The governor recommended a new $15 million general fund transfer with appropriation authority to fund an estimated revolving loan program that, according to the treasurer’s office summary, could support roughly 300 to 400 workforce housing units over time. Lahoset said the governor’s office indicated the allocation would comply with Idaho Code section 67‑6227 (presentation referenced 67‑62‑27) and that the use is intended to provide gap financing for developments.
On unclaimed property, Lahoset highlighted the Abandoned Property Trust Fund and noted Idaho Code (presentation referenced Article 14, section 5801 for the trust fund rules) requires sums in the fund in excess of $500,000 be transferred to the general fund. The treasurer’s office also requested a modest ongoing $25,000 appropriation for an email/cloud security product to block phishing and other malicious content.
Treasurer Ellsworth noted the treasurer’s office returns investment earnings to the general fund and supervises many state banking functions. Committee members asked for further detail on the prior $50 million dispersal and for geographic breakdowns of awarded projects; IHFA staff said information on prior projects and award locations could be provided to the committee.
