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IA HF2168

Bill

Official Source

Status

Introduced

1/27/2026

Primary Sponsor

Zachary Dieken

Click for details

Origin

House of Representatives

91st General Assembly

AI Summary

  • Imposes a 50% tax on gross remittance transfer amounts made by senders in Iowa, applying only to transfers funded with cash, money orders, cashier's checks, or similar physical instruments
  • Exempts remittance transfers where funds are withdrawn from accounts held at financial institutions
  • Requires remittance transfer providers to collect the tax and remit it monthly to the Iowa Department of Revenue, with providers liable for any uncollected tax
  • Deposits all revenues from the remittance transfer tax into the state's general fund
  • Takes effect for remittance transfers occurring on or after July 1, 2026

Legislative Description

A bill for an act creating a state remittance tax and including applicability provisions.

Last Action

Introduced, referred to Commerce. H.J. 156.

1/27/2026

Committee Referrals

Commerce1/27/2026

Full Bill Text

No bill text available