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2025 bills / H.B. 284

H.B. 284 International Money Transmission Amendments (2025)

Did not passWritten by Rep. Stephanie Gricius · carried in the Senate by Sen. Daniel McCay

  1. Introduced
  2. House committee
  3. House vote
  4. Senate committee
  5. Senate vote (stopped here)
  6. Signed into law

What this bill does

The bill would impose a tax on international money transfers starting on a set date, but not on customers who show valid identification. Licensed money transmitters would collect the tax, list it separately on receipts, pay it to the State Tax Commission quarterly, and report annually; individuals who pay it could claim a nonrefundable income tax credit.

Plain-English summary written by AI from the official description. Check the official text below.

Official description
  • defines terms
  • imposes a tax on international money transmissions on or after a certain date
  • exempts an international money transmission from the tax if the customer requesting the transaction presents valid identification
  • requires the tax to be stated separately on an invoice or receipt
  • requires licensed money transmitters to remit collected taxes quarterly and report annually to the State Tax Commission
  • provides for the State Tax Commission's administration of the tax
  • enacts a nonrefundable income tax credit for individuals who pay the tax
  • requires the commissioner of the Department of Financial Institutions to annually provide a list of all licensed money transmitters to the State Tax Commission
  • makes technical changes
Full text and history on le.utah.gov →

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