OK HB2169

Money transmission licensees must collect a $5.00 fee for domestic transactions up to $500, plus 1% of amounts exceeding $500, and a $10.00 fee for international transactions up to $500, plus 2% of amounts exceeding $500.

Collected fees are remitted quarterly to the Oklahoma Tax Commission by the 15th day of the month following each calendar quarter and distributed to the "Organized Crime and Human Trafficking Revolving Fund."

Licensees must post notices informing customers they can claim an income tax credit equal to the transaction fee when filing tax returns with a valid Social Security number or taxpayer identification number.

The Oklahoma Tax Commission may suspend licenses of money transmitters that fail to file required reports or remit fees, with notification sent to the State Banking Commissioner and Director of the Oklahoma State Bureau of Narcotics and Dangerous Drugs Control.

The revolving fund name changes from "Drug Money Laundering and Wire Transmitter Revolving Fund" to "Organized Crime and Human Trafficking Revolving Fund" and funds drug enforcement activities.

Effective date: November 1, 2025.