This bill establishes new regulations regarding fees for wire transmissions and introduces related income tax credits. It mandates that a licensee or their authorized delegate collect a fee of $5 for each wire transmission of $500 or less, and an additional 2% fee on amounts exceeding $500. The collected fees must be remitted quarterly to the Iowa Department of Revenue, which will then allocate the funds to the office to combat human trafficking. Licensees are also required to inform customers that they can claim an income tax credit equal to the total wire transmission fees paid during the tax year when filing their tax returns with a valid social security number or taxpayer identification number.

The bill outlines enforcement measures, stating that the Department of Revenue, in collaboration with the Department of Public Safety, will oversee compliance. If a licensee fails to adhere to the remittance requirements, the Department of Revenue will notify the superintendent of banking, who has the authority to suspend or revoke the licensee's license or the designation of an authorized delegate. Additionally, the superintendent may file a claim against the licensee's surety bond upon request from the Department of Revenue.