NE LB1174

Imposes a 2% excise tax on remittance transfers (money sent abroad) by licensed money transmitters and their authorized delegates, with a higher 20% tax rate for transfers to foreign adversary countries as defined in federal regulations (15 C.F.R. 791.4)

Exempts active duty members of the U.S. armed forces, Nebraska National Guard members in active state service, and their dependents from the remittance transfer tax upon presentation of valid military identification

Requires remittance transfer providers to collect the tax from senders and remit it quarterly to the Department of Revenue, with all proceeds credited to the General Fund

Mandates that money transmitter licensees report transaction amounts to foreign adversary countries separately from other foreign countries in their quarterly reports of condition, along with estimated tax collected for each category

Becomes operative on July 1, 2026, and is declared an emergency measure to take effect immediately upon passage and approval