Imposing a fee on each international transaction by a money transmitter by wire, allowing the state bank commissioner to assess penalties for the nonpayment of such fee, providing for the distribution of such fee and penalty moneys, establishing the criminal litigation fund, wire transfer fee fund and prosecutor and law enforcement grant fund and creating a misdemeanor crime of unlawful transmission of a wire transfer and providing criminal penalties therefor.

HB 2337 imposes a $7.50 fee on each international wire transfer under $500 or 1.5% for amounts over $500, charged to customers by money transmitters. These fees must be collected monthly and reported electronically to the state bank commissioner, with nonpayment subject to penalties. Collected fees and penalties are distributed as follows: 30% to the criminal litigation fund (for prosecuting criminal cases), 45% to the wire transfer fee fund, and 25% to prosecutor and law enforcement grant funds. The bill also creates a misdemeanor crime for unlawful wire transfers with criminal penalties, targeting illegal money movement.