Oklahoma House Bill HB2169

Oklahoma 2026 Regular Session

• Introduced: 2/3/25
• Refer: 2/4/25
• Report Pass: 3/3/25
• Engrossed: 3/31/25
• Refer: 4/1/25

Caption

Money wire transmissions; Drug Money Laundering and Wire Transmitter Act; increasing certain fee and percentage amount; effective date.

Summary

HB2169 amends Oklahoma’s laws governing money transmission and wire transmitter businesses. The bill raises the fee collected on covered transactions: for transfers within the United States, the fee becomes $5 on transactions up to $500, plus 1% of the amount over $500; for transactions outside the United States, the fee becomes $10 on transactions up to $500, plus 2% of the amount over $500. The bill also requires licensees and their delegates to post a notice telling customers that they may claim an Oklahoma income tax credit for the fee paid, subject to filing an individual income tax return with a valid Social Security number or taxpayer identification number.

Impact

The bill changes 63 O.S. 2021, Section 2-503.1j, by increasing the fee structure imposed on money transmission and wire transfer transactions and by strengthening reporting, enforcement, and notice requirements. It also amends Section 2-107b to rename the revolving fund as the "Organized Crime and Human Trafficking Revolving Fund," while continuing to direct fee revenue into that fund for use by the Oklahoma State Bureau of Narcotics and Dangerous Drugs Control for drug enforcement purposes. The measure gives the Oklahoma Tax Commission enforcement authority, including the ability to suspend licenses for noncompliance and seek assistance from the State Banking Commissioner and narcotics bureau, and it takes effect November 1, 2025.

Sentiment

The bill appears to have broad support in committee, passing the House Public Safety Committee 7-0 and the House Judiciary and Public Safety Oversight Committee 13-0 as amended by committee substitute. It also advanced on House third reading, though with a narrower floor vote of 51-37, indicating more divided support among the full chamber. Overall, the committee record suggests strong support for the bill’s enforcement and anti-crime objectives, while the floor vote shows some reservations or opposition.

Contention

The main points of contention appear to be the higher transaction fees imposed on money transmitters and their customers, and the broader policy choice to route those revenues into a law-enforcement fund tied to drug enforcement, organized crime, and human trafficking. Supporters likely view the bill as a tool to deter illicit financial activity and fund enforcement, while opponents may be concerned about the cost burden on legitimate users of wire transfer services, especially those sending smaller remittances or international transfers. The 51-37 House vote suggests that the fee increase and enforcement expansion were the most debated aspects.