Establishes a Payment Scam Task Force to identify and prevent payment scams.

The bill creates the Task Force on Payment Scams, which is to be established by the Chief Financial Officer. The task force will include representatives from various state agencies and industry experts. Its duties include examining current trends in payment scams, identifying effective prevention methods, and issuing recommendations. The task force will submit an initial report within a year of its establishment and annual updates thereafter. The bill also outlines the membership, terms, and duties of the task force, and provides for its eventual repeal unless reenacted by the Legislature.

Establishes a Payment Scam Task Force to identify and prevent payment scams.

The bill creates the Task Force on Payment Scams, which is to be established by the Chief Financial Officer. The task force will include representatives from various state agencies and industry experts. Its duties include examining current trends in payment scams, identifying effective prevention methods, and issuing recommendations. The task force will submit an initial report within a year of its establishment and annual updates thereafter. The bill also outlines the membership, terms, and duties of the task force, and provides for its eventual repeal unless reenacted by the Legislature.