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OK SB2056
Bill
Status
2/2/2026
Primary Sponsor
Dusty Deevers
Click for details
AI Summary
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Increases the flat fee on money transmission transactions up to $500 from $5.00 to $10.00, and raises the percentage fee on amounts exceeding $500 from 1% to 3%
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Reinstates the income tax credit for electronic funds transfer fees starting in tax year 2027, after the credit was unavailable from 2017-2026
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Fee revenues continue to be deposited into the Drug Money Laundering and Wire Transmitter Revolving Fund
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Unused tax credits may be carried forward for up to five succeeding taxable years, but cannot reduce tax liability below zero
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Effective date is November 1, 2026
Legislative Description
Electronic money transmissions; increasing fee; modifying tax years credit can be claimed. Effective date.
Last Action
Second Reading referred to Public Safety Committee then to Appropriations Committee
2/3/2026