House Bill No. 2169, introduced by Representative Pfeiffer, amends the Drug Money Laundering and Wire Transmitter Act by increasing the fees associated with money wire transmissions. Specifically, the bill raises the transaction fee from Five Dollars ($5.00) to Ten Dollars ($10.00) for transactions not exceeding Five Hundred Dollars ($500.00). Additionally, it increases the percentage fee on amounts exceeding Five Hundred Dollars from one percent (1%) to two percent (2%). These fees are to be remitted quarterly to the Oklahoma Tax Commission, which will allocate the revenues to the Drug Money Laundering and Wire Transmitter Revolving Fund.

The bill also includes provisions for compliance and enforcement, allowing the Oklahoma Tax Commission to suspend the licenses of any licensee that fails to file reports or remit fees. It mandates that licensees post notices informing customers of their eligibility for an income tax credit equal to the fee paid for the transaction, provided they file an individual income tax return with a valid Social Security number or taxpayer identification number. The act is set to take effect on November 1, 2025.