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

SB 2056 increases the fee for money transmission services (like mobile payments) from $5 to $10 per transaction under $500, plus 1-3% on amounts over $500. It creates a tax credit allowing individuals and businesses to claim back these fees when filing income taxes for tax years 2009-2010, with claims due by 2010. The bill modifies the tax credit rules to specify eligibility and carryover periods, and directs fee revenue to a Drug Money Laundering fund. It takes effect November 1, 2026.