A bill for an act creating a state remittance tax and including applicability provisions.

Summary

The bill imposes a 50 % tax on the full amount of any remittance sent in Iowa when the sender uses cash, money orders, cashier’s checks or similar physical instruments. The sender is responsible for the tax, the remittance provider must collect and remit it monthly, and the revenue goes to the state’s general fund. The tax does not apply to transfers funded from bank accounts and takes effect on July 1 2026.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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