Bill > SB1988

This bill increases the fee for money transmissions, specifically for funds sent outside of the United States and its territories, from five dollars ($5.00) to twenty dollars ($20.00) for transactions up to five hundred dollars ($500.00), and raises the additional percentage on amounts over five hundred dollars ($500.00) from one percent (1%) to four percent (4%). It also modifies the income tax credit available for these fees, allowing it to be claimed for tax years 2009 through 2016 and again for 2027 and subsequent tax years, effectively reauthorizing the credit after a period of expiration. The bill also updates statutory language and references related to these provisions and sets an effective date of January 1, 2027.

Justice

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1988&Session=2600