SB2075

Oklahoma SB2075 modifies fees for money transmissions and declares an emergency.

Oklahoma SB2075 amends the fee structure for money transmissions, increasing the fee to $25 for transactions up to $500 and adding a 5% fee on amounts exceeding $500. The bill mandates that these fees be remitted quarterly to the Oklahoma Tax Commission. It also authorizes the Commission to suspend licenses for non-compliance and requires licensees to notify customers of an income tax credit. The act declares an emergency and takes effect July 1, 2026.