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SB0202Introduced in the Senate

Taxation of remittances.

IntroducedSenate Insurance & Financial Institutions

Introduced by James Tomes, District 49

What does this bill do?

Plain-English breakdown

Writing a plain-English summary of this bill… this can take a few seconds the first time.

Official description

Taxation of remittances. Requires a money transmitter (entities licensed under the Money Transmission Modernization Act) to collect and remit an international money wiring fee from senders of a money transmission transaction to a location outside of the United States. Provides an income tax credit to an individual who is a citizen or national of the United States, or an alien who has lawful permanent resident status or conditional permanent resident status, and paid an international money wiring fee during the taxable year. Requires the revenue from the international money wiring fee to be deposited in the state general fund. Includes the international money wiring fee under the definition of "listed taxes" that the department of state revenue is required to collect and administer.

Where it stands

First reading: referred to Committee on Insurance and Financial Institutions

January 8, 2026

How did lawmakers vote?

No recorded vote is available for this bill yet.

Bill history

  1. Authored by Senator Tomes

  2. First reading: referred to Committee on Insurance and Financial Institutions

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