AZ HB2677

Establishes an assessment on entities that transmit wire transfers of money to locations outside the United States, with the rate and percentage of amounts exceeding $500 prescribed by the department director.

Assessment must be paid to the department at the same time as transaction privilege tax, or is due and delinquent under existing tax collection provisions if transaction privilege tax is not paid.

Revenue from the assessment is deposited into a newly established border security fund used for purchasing equipment, employing personnel, and constructing a fence along the Arizona-Mexico border.

Allows a tax credit against state income taxes for the amount of international money wire transfer assessment paid during the taxable year, up to the taxpayer's income tax liability.