Money transmission fees; require money transmitters to collect on certain transfers.

HB 362 requires money transmitters (like Western Union or similar services) to collect a $5 fee for each international transfer of $500 or less, plus 1% for amounts over $500. It exempts transfers funded through U.S. banks, credit/debit cards, or domestic transfers. Customers who pay the fee can claim a tax credit on their Mississippi income tax return by providing a Social Security or Tax ID number, which the state will verify using data from transmitters. The bill takes effect July 2026 for fee collection and January 2026 for the tax credit, with license suspensions for non-compliance.