LB1174

Nebraska LB1174 amends the Nebraska Money Transmitters Act to change reporting requirements and establish a remittance transfer tax.

Nebraska LB1174 amends the Nebraska Money Transmitters Act by changing the reporting requirements for money transmitters. Licensees must submit reports of condition within 45 days after the end of each calendar quarter, including financial information, transaction data, and permissible investments. The act also imposes a remittance transfer tax of 2% on transfers by licensees, with an exception for transfers involving active duty military members or their dependents.