IA HF601

Imposes a $5 fee on wire transmissions of $500 or less, plus an additional 2% fee on any amount exceeding $500, collected by licensed money transmitters or their authorized delegates

Requires quarterly remittance of collected fees to the Department of Revenue by the 15th day of the month following each calendar quarter

Directs all fee revenue to the Office to Combat Human Trafficking established under section 80.45

Provides an individual income tax credit equal to wire transmission fees paid during the tax year for customers who file returns with a valid Social Security number or taxpayer identification number

Authorizes the Superintendent of Banking to suspend or revoke licenses of money transmitters who fail to comply, and allows filing claims against the licensee's surety bond for enforcement