West Virginia legislation · 2025 Regular Session
West Virginia HB3453: Tto require money transmitter licensees
Status: Introduced, March 17, 2025
The purpose of this bill is to requiring money transmitter licensees and authorized representative to collect and remit a fee for international money transmission.
What the bill says
To amend the code of West Virginia, 1931, as amended, by adding a new article, designated §11B-3-1, relating to requiring money transmitter licensees and authorized representative to collect and remit a fee for international money transmission. article 3. International money transmission fees. §11B-3-1. International money transmission fees, remittance, and registration. (a) Any licensee of a money transmission, transmitter or wire transmitter business or authorized delegate shall collect a fee of $5 for each transaction not in excess of $500 and in addition to such fee an amount equal.
From the introduced text, March 17, 2025:
A BILL to amend the code of West Virginia, 1931, as amended, by adding a new article, designated §11B-3-1, relating to requiring money transmitter licensees and authorized representative to collect and remit a fee for international money transmission. article 3. International money transmission fees. §11B-3-1. International money transmission fees, remittance, and registration. (a) Any licensee of a money transmission, transmitter or wire transmitter business or authorized delegate shall collect a fee of $5 for each transaction not in excess of $500 and in addition to such fee an amount equal to three percent of the amount in excess of $500. (b) The fee prescribed by subsection (a) of this section shall be remitted quarterly to the Secretary of the West Virginia Department of Revenue on such forms as the secretary may prescribe for such purpose. All required forms and remittances shall be filed with the secretary not later than the 15th day of the month following the close of each calendar quarter. (c) If the form remitted to the secretary is filed and the amount of transfer fees shown on the form to be due is paid on or before the date the form is required to be filed, the transmitter is entitled to a discount in the amount of the fee equal to three-fourths of one percent of the …