Relating to fees for wire transmissions, and related income tax credits

Where it is now

Done: IntroducedFebruary 25, 2025
Done: SubcommitteeMarch 18, 2025
Done: House committeeMarch 25, 2026
Done: Passes the HouseApril 8, 202660–32
Next: Senate committeeFunnel: by March 20, 2026
Next: Passes the Senate
Next: To the Governor
Next: Signed into law

Became HF 2750 → Its progress continues under the new number. Go to HF 2750 What’s a funnel?

What’s in it

This bill relates to fees for wire transmissions and related income tax credits. Under the bill, in addition to any other fee required by law for a wire transmission, a licensee or the licensee’s authorized delegate shall collect a fee of $5 for each wire transmission equal to or less than $500, and an additional fee equal to percent of any amount in excess of $500. “Wire transmission” is defined in the bill. The fees shall be remitted by the licensee quarterly to the department of revenue (department) in the form and manner prescribed by the department in consultation with the department of public safety.

Read the full explanation

All required forms and remittances shall be filed with the department no later than the 15th day of the month following the close of each calendar quarter. The department shall account for all fees remitted and pay over the same to the office to combat human trafficking. A licensee furnishing money transfer services shall post a notice to customers that upon filing an individual income tax return with a valid social security number or taxpayer identification number, the customer shall be entitled to an individual income tax credit equal to the amount of wire transmission fees paid by the customer during the tax year. The department, in consultation with the department of public safety, shall enforce the provisions of the bill. If a licensee fails to comply with the bill, the department shall notify the superintendent of banking who may suspend or revoke the licensee’s license, and may issue an order suspending or revoking the designation of an authorized delegate. Notification of a suspension shall be delivered to the commissioner of public safety. Upon request by the department, the superintendent may file a claim against the surety bond of the licensee on behalf of the state.

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Changed since by amendment H-8329; see Amendments. Full bill text

House subcommittee

Named January 29, 2026. On February 26, 2026 it recommended passage.

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

1 written public comment to its subcommittee: February 26, 2026 (1) · on the Legislature’s site

Fiscal note

Figure 3 shows the estimated wire transmissions and the associated revenue from the $5 fee that applies to all wire transmissions. 0% fee that applies to the excess amount of wire transmissions over $500. 0% fee on the excess amount. Wire transmission fees will begin to be collected in FY 2027.

Wire Transmission Fees · April 22, 2026
Wire Transactions, Fees and Tax Credit · April 2, 2026

Nonpartisan cost estimates from the Legislative Services Agency’s Fiscal Services Division. The newest is first. Reading a fiscal note

Iowa Code it changes

Creates§533C.1004

Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works

Lobbying

1 for · 13 against · 12 undecided · Who →

Family tree

Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.

91st General Assembly

HF 601Renumbered HF 2750Passed a chamberfrom HF 601

Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.