Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 2nd Session of the 60th Legislature (2026)
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3 SENATE BILL 2075 By: Bergstrom
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6 AS INTRODUCED
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7 An Act relating to money transmissions; amending 63
7 O.S. 2021, Section 2-503.1j, which relates to fee for
8 money transmissions; modifying fee amount; updating
8 statutory language; updating statutory references;
9 providing an effective date; and declaring an
9 emergency.
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12 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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13 SECTION 1. AMENDATORY 63 O.S. 2021, Section 2-503.1j, is
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14 amended to read as follows:
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15 Section 2-503.1j. A. Any licensee of a money transmission,
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16 transmitter, or wire transmitter business pursuant to the Oklahoma
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17 Financial Transaction Reporting Act and their delegates shall
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18 collect a fee of Five Dollars ($5.00) Twenty-five Dollars ($25.00)
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19 for each transaction not in excess of Five Hundred Dollars ($500.00)
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20 and in addition to such fee an amount equal to one percent (1%) five
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21 percent (5%) of the amount in excess of Five Hundred Dollars
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22 ($500.00).
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23 B. The fee prescribed by subsection A of this section shall be
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24 remitted quarterly to the Oklahoma Tax Commission on such forms as
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Req. No. 2533 Page 1
1 the Tax Commission, with the assistance of the Oklahoma State Bureau
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2 of Narcotics and Dangerous Drugs Control, may prescribe for such
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3 purpose. All required forms and remittances shall be filed with the
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4 Tax Commission not later than the fifteenth day of the month
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5 following the close of each calendar quarter.
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6 C. The Oklahoma Tax Commission shall apportion all revenues
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7 derived from the fee to the Drug Money Laundering and Wire
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8 Transmitter Revolving Fund.
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9 D. Every licensee and their delegates shall post a notice on a
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10 form prescribed by the Director of the Oklahoma State Bureau of
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11 Narcotics and Dangerous Drugs Control that notifies customers that
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12 upon filing an individual income tax return with either a valid
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13 social security number or a valid taxpayer identification number the
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14 customer shall be entitled to an income tax credit equal to the
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15 amount of the fee paid by the customer for the transaction.
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16 E. The Oklahoma Tax Commission shall be afforded all provisions
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17 currently under law to enforce the provisions of subsection B of
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18 this section. If a licensee fails to file reports or fails to remit
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19 the fee authorized by subsection B A of this section, the Oklahoma
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20 Tax Commission shall have the authority pursuant to Section 212 of
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21 Title 68 of the Oklahoma Statutes to suspend the license of the
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22 licensee and its delegates. A notification of the suspension shall
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23 also be sent to the State Banking Commissioner and the Director of
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24 the Oklahoma State Bureau of Narcotics and Dangerous Drugs Control.
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Req. No. 2533 Page 2
1 The licensee and its delegates may not reapply for a license until
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2 all required reports have been filed and all required fee amounts
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3 have been remitted.
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4 F. Upon request from the Oklahoma Tax Commission, the State
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5 Banking Commissioner may make a claim against the surety bond of the
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6 licensee on behalf of the State of Oklahoma this state.
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7 G. The Oklahoma State Bureau of Narcotics and Dangerous Drugs
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8 Control and its attorneys may assist the Oklahoma Tax Commission in
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9 conducting audits and the prosecution and/or or seeking of legal
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10 remedies to ensure compliance with this act the Drug Money
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11 Laundering and Wire Transmitter Act.
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12 SECTION 2. This act shall become effective July 1, 2026.
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13 SECTION 3. It being immediately necessary for the preservation
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14 of the public peace, health or safety, an emergency is hereby
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15 declared to exist, by reason whereof this act shall take effect and
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16 be in full force from and after its passage and approval.
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18 60-2-2533 TEK 1/15/2026 11:52:09 AM
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Req. No. 2533 Page 3Every fact on this page links to its source, starting with the official bill record.