S.B. No. 1499 is a legislative act that reorganizes and updates the operations of the Financial Crimes Intelligence Center in Texas. The bill transfers Chapter 2312 of the Occupations Code to Subtitle B, Title 4 of the Government Code, redesignating it as Chapter 426. It introduces new definitions related to financial crimes, including "check fraud," "electronic fund transfer," and "payment fraud," while also amending existing definitions. The bill emphasizes the center's role in coordinating law enforcement efforts to combat payment fraud, including the use of skimmers, and mandates the establishment of a director to oversee the center's operations.

Additionally, the bill outlines the center's powers and duties, which include collaborating with various governmental agencies, assisting in the detection and prevention of payment fraud, and providing training and outreach. It allows the department to accept funding through gifts and grants, with specific provisions to ensure that no donations are accepted from license holders. The act is set to take effect on September 1, 2025, and requires the Texas Commission of Licensing and Regulation to adopt necessary rules to implement these changes.