Legislative record

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.