Imposing a fee on each international transaction by a money transmitter by wire, allowing the state bank commissioner to assess penalties for the nonpayment of such fee, providing for the distribution of such fee and penalty moneys, establishing the criminal litigation fund, wire transfer fee fund and prosecutor and law enforcement grant fund and creating a misdemeanor crime of unlawful transmission of a wire transfer and providing criminal penalties therefor.

Summary

The bill would make every licensed money transmitter collect a $7.50 fee on small international wires or 1.5 % on larger ones, report the fees monthly, and pay them to the state. It also sets up three state‑controlled funds, allows the bank commissioner to fine or claim against a transmitter’s bond for missed fees, and makes unlawful wire transfers by non‑citizens a misdemeanor. The measure never left committee.

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