Oklahoma SB2056: Electronic money transmissions; increasing fee; modifying tax years credit can be claimed. Effective date.

What the bill says

An Act relating to money transmissions; amending 63 O.S. 2021, Section 2-503.1j, which relates to fee for money transmissions; modifying fee amount; amending 68 O.S. 2021, Section 2357.401, which relates to income tax credit in the amount of electronic funds transfers fees; modifying tax years for which credit is claimed; updating statutory language; updating statutory references; and providing an effective date.

From the introduced text, January 15, 2026:

An Act relating to money transmissions; amending 63 O.S. 2021, Section 2-503.1j, which relates to fee for money transmissions; modifying fee amount; amending 68 O.S. 2021, Section 2357.401, which relates to income tax credit in the amount of electronic funds transfers fees; modifying tax years for which credit is claimed; updating statutory language; updating statutory references; and providing an effective date. SECTION 1. AMENDATORY 63 O.S. 2021, Section 2-503.1j, is amended to read as follows: Section 2-503.1j. A. Any licensee of a money transmission, transmitter, or wire transmitter business pursuant to the Oklahoma Financial Transaction Reporting Act and their delegates shall collect a fee of Five Dollars ($5.00) Ten Dollars ($10.00) for each transaction not in excess of Five Hundred Dollars ($500.00) and in addition to such fee an amount equal to one percent (1%) three percent (3%) of the amount in excess of Five Hundred Dollars ($500.00). B. The fee prescribed by subsection A of this section shall be remitted quarterly to the Oklahoma Tax Commission on such forms as Req. No. 3431 Page 1 the Tax Commission, with the assistance of the Oklahoma State Bureau of Narcotics and Dangerous Drugs Control, may prescribe for such purpose. All required forms and remittances shall be filed with the Tax Commission not later than the fifteenth day of the month following …

Read the full official text

Sponsors

• George Burns (R, SD-005)
• Ty Burns (R, HD-035)
• Dusty Deevers (R, SD-032) · primary sponsor

Latest actions

1. February 3, 2026: Second Reading referred to Public Safety Committee then to Appropriations Committee
2. February 2, 2026: Coauthored by Senator Burns
3. February 2, 2026: Authored by Senator Deevers
4. February 2, 2026: First Reading

Common questions

What is SB2056?

SB2056 is a bill in the Oklahoma Legislature (2026 Regular Session): Electronic money transmissions; increasing fee; modifying tax years credit can be claimed. Effective date.

What does SB2056 do?

In its own words: An Act relating to money transmissions; amending 63 O.S. 2021, Section 2-503.1j, which relates to fee for money transmissions; modifying fee amount; amending 68 O.S. 2021, Section 2357.401, which relates to income tax credit in the amount of electronic funds transfers fees; modifying tax years for which credit is claimed; updating statutory language; updating statutory references; and providing an effective date.

What is the status of SB2056?

In committee as of February 3, 2026. Latest action: Second Reading referred to Public Safety Committee then to Appropriations Committee (February 3, 2026).

Who sponsored SB2056?

Dusty Deevers (R, SD-032), with 2 co-sponsors.

Where is the official record for SB2056?

On the Oklahoma Legislature website: https://www.oklegislature.gov/BillInfo.aspx?Bill=SB2056&Session=2600