An Act amending the act of September 2, 1965 (P.L.490, No.249), referred to as the Money Transmission Business Licensing Law, further providing for licensee requirements and for agents.

This bill updates Pennsylvania's Money Transmission Business Licensing Law to require businesses sending money abroad to charge a 10% fee on each transaction. The collected fees must be reported quarterly and deposited into the Property Tax Relief Fund, though individuals with valid tax IDs can claim a credit against this fee. Additionally, the law mandates that agents acting for these businesses must collect and remit the fees within thirty days. Licensees are also required to post notices informing customers of their eligibility for the tax credit.