Read the full stored bill text
House
File
601
-
Introduced
HOUSE
FILE
601
BY
THOMPSON
A
BILL
FOR
An
Act
relating
to
fees
for
wire
transmissions,
and
related
1
income
tax
credits.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
2765YH
(3)
91
nls/ko
H.F.
601
Section
1.
NEW
SECTION
.
533C.1004
Wire
transmission
fees.
1
1.
For
purposes
of
this
section,
“wire
transmission”
means
2
money
transmission
by
wire
including
transmission
within
this
3
country
or
to
or
from
locations
abroad.
4
2.
In
addition
to
any
other
fee
required
by
law
for
a
wire
5
transmission,
a
licensee
or
the
licensee’s
authorized
delegate
6
shall
collect
from
a
customer
a
fee
of
five
dollars
for
each
7
wire
transmission
equal
to
or
less
than
five
hundred
dollars,
8
and
in
addition
to
such
fee,
if
applicable,
an
amount
equal
to
9
two
percent
of
the
amount
of
the
wire
transmission
in
excess
10
of
five
hundred
dollars.
11
3.
The
fees
collected
under
subsection
2
shall
be
remitted
12
quarterly
by
the
licensee
or
the
licensee’s
authorized
13
delegate
to
the
department
of
revenue
in
the
form
and
manner
14
prescribed
by
the
department
of
revenue,
in
consultation
with
15
the
department
of
public
safety.
All
required
forms
and
16
remittances
shall
be
filed
with
the
department
of
revenue
no
17
later
than
the
fifteenth
day
of
the
month
following
the
close
18
of
each
calendar
quarter.
19
4.
The
department
of
revenue
shall
account
for
all
fees
20
remitted
under
subsection
3
and
pay
over
the
same
to
the
office
21
to
combat
human
trafficking
established
in
section
80.45.
22
5.
A
licensee
and
the
authorized
delegate
of
a
licensee
23
furnishing
money
transfer
services
shall
post
a
notice,
in
the
24
form
and
manner
prescribed
by
the
department
of
public
safety,
25
that
notifies
customers
that
upon
filing
an
individual
income
26
tax
return
with
a
valid
social
security
number
or
a
valid
27
taxpayer
identification
number,
the
customer
shall
be
entitled
28
to
an
individual
income
tax
credit
equal
to
the
amount
of
wire
29
transmission
fees
paid
by
the
customer
during
the
tax
year.
30
6.
a.
The
department
of
revenue,
in
consultation
with
the
31
department
of
public
safety,
shall
enforce
the
provisions
of
32
this
section.
33
b.
If
a
licensee
or
licensee’s
authorized
delegate
fails
34
to
comply
with
subsection
3,
the
department
of
revenue
shall
35
-1-
LSB
2765YH
(3)
91
nls/ko
1/
3
H.F.
601
notify
the
superintendent
who
may
suspend
or
revoke
the
1
licensee’s
license
under
section
533C.901,
and
may
issue
an
2
order
suspending
or
revoking
the
designation
of
an
authorized
3
delegate
under
section
533C.902.
Notification
of
a
suspension
4
under
this
paragraph
shall
be
delivered
to
the
commissioner
of
5
public
safety.
6
c.
Upon
request
by
the
department
of
revenue,
the
7
superintendent
may
file
a
claim
against
the
surety
bond
of
the
8
licensee
on
behalf
of
the
state.
9
EXPLANATION
10
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
11
the
explanation’s
substance
by
the
members
of
the
general
assembly.
12
This
bill
relates
to
fees
for
wire
transmissions
and
related
13
income
tax
credits.
14
Under
the
bill,
in
addition
to
any
other
fee
required
by
15
law
for
a
wire
transmission,
a
licensee
or
the
licensee’s
16
authorized
delegate
shall
collect
a
fee
of
$5
for
each
wire
17
transmission
equal
to
or
less
than
$500,
and
an
additional
fee
18
equal
to
2
percent
of
any
amount
in
excess
of
$500.
“Wire
19
transmission”
is
defined
in
the
bill.
20
The
fees
shall
be
remitted
by
the
licensee
quarterly
21
to
the
department
of
revenue
(department)
in
the
form
and
22
manner
prescribed
by
the
department
in
consultation
with
23
the
department
of
public
safety.
All
required
forms
and
24
remittances
shall
be
filed
with
the
department
no
later
25
than
the
15th
day
of
the
month
following
the
close
of
each
26
calendar
quarter.
The
department
shall
account
for
all
fees
27
remitted
and
pay
over
the
same
to
the
office
to
combat
human
28
trafficking.
29
A
licensee
furnishing
money
transfer
services
shall
post
30
a
notice
to
customers
that
upon
filing
an
individual
income
31
tax
return
with
a
valid
social
security
number
or
taxpayer
32
identification
number,
the
customer
shall
be
entitled
to
an
33
individual
income
tax
credit
equal
to
the
amount
of
wire
34
transmission
fees
paid
by
the
customer
during
the
tax
year.
35
-2-
LSB
2765YH
(3)
91
nls/ko
2/
3
H.F.
601
The
department,
in
consultation
with
the
department
of
1
public
safety,
shall
enforce
the
provisions
of
the
bill.
If
a
2
licensee
fails
to
comply
with
the
bill,
the
department
shall
3
notify
the
superintendent
of
banking
who
may
suspend
or
revoke
4
the
licensee’s
license,
and
may
issue
an
order
suspending
5
or
revoking
the
designation
of
an
authorized
delegate.
6
Notification
of
a
suspension
shall
be
delivered
to
the
7
commissioner
of
public
safety.
Upon
request
by
the
department,
8
the
superintendent
may
file
a
claim
against
the
surety
bond
of
9
the
licensee
on
behalf
of
the
state.
10
-3-
LSB
2765YH
(3)
91
nls/ko
3/
3