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OK HB2169
Bill
Status
3/31/2025
Primary Sponsor
John Pfeiffer
Click for details
AI Summary
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Money transmission businesses 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
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Renames the "Drug Money Laundering and Wire Transmitter Revolving Fund" to the "Organized Crime and Human Trafficking Revolving Fund"
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Fees must be remitted quarterly to the Oklahoma Tax Commission by the 15th day of the month following each calendar quarter
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Customers who pay these transaction fees are entitled to an income tax credit equal to the fee amount when filing returns with a valid Social Security number or taxpayer identification number
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Effective date is November 1, 2025
Legislative Description
Money wire transmissions; Drug Money Laundering and Wire Transmitter Act; increasing certain fee and percentage amount; effective date.
Last Action
Second Reading referred to Public Safety Committee then to Appropriations Committee
4/1/2025