SF 4483

Introduction - 94th Legislature (2025 - 2026)

Posted on 03/18/2026 09:19 a.m.

A bill for an act
relating to taxation; imposing a tax on certain remittance transfers; proposing
coding for new law in Minnesota Statutes, chapter 295.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [295.90] REMITTANCE TRANSFERS.
new text end

new text begin Subdivision 1. new text end

new text begin Definitions. new text end

new text begin For purposes of this section, the following terms have the
meanings given:
new text end

new text begin (1) "remittance transfer" has the meaning provided in United States Code, title 15, section
1693o-1(g)(2);
new text end

new text begin (2) "remittance transfer provider" has the meaning provided in United States Code, title
15, section 1693o-1(g)(3); and
new text end

new text begin (3) "sender" has the meaning provided in United States Code, title 15, section
1693o-1(g)(4).
new text end

new text begin Subd. 2. new text end

new text begin Tax imposed. new text end

new text begin A tax is imposed on remittance transfers sent from this state.
The tax is equal to one percent of the amount of the transfer.
new text end

new text begin Subd. 3. new text end

new text begin Tax limited to cash and similar instruments. new text end

new text begin The tax imposed under this
section applies only to a remittance transfer for which the sender provides cash, a money
order, a cashier's check, or any other similar physical instrument, as determined by the
commissioner, to the remittance transfer provider.
new text end

new text begin Subd. 4. new text end

new text begin Nonapplication to certain noncash remittance transfers. new text end

new text begin The tax under this
section does not apply to any remittance transfer for which the money being transferred is:
new text end

new text begin (1) withdrawn from an account held in or by a financial institution:
new text end

new text begin (i) that is described in subparagraphs (A) to (H) of United States Code, title 31, section
5312(a)(2); and
new text end

new text begin (ii) that is subject to the requirements under United States Code, title 31, subchapter II;
or
new text end

new text begin (2) funded with a debit card or a credit card that is issued in the United States.
new text end

new text begin Subd. 5. new text end

new text begin Collection. new text end

new text begin A remittance transfer provider must collect the tax imposed in
subdivision 2 from the sender of the remittance transfer and remit the tax collected to the
commissioner in the manner provided for taxes imposed under chapter 297A.
new text end

new text begin Subd. 6. new text end

new text begin Administration. new text end

new text begin The audit, assessment, refund, penalty, interest, enforcement,
collection remedies, appeal, and administrative provisions of chapters 270C and 289A that
are applicable to taxes imposed under chapter 297A apply to the tax imposed under this
section.
new text end

new text begin Subd. 7. new text end

new text begin Returns; payment of tax. new text end

new text begin (a) A remittance transfer provider must report the
tax on a return prescribed by the commissioner and must remit the tax in a form and manner
prescribed by the commissioner. The return and the tax must be filed and paid using the
filing cycle and due dates provided for taxes imposed under section 289A.20, subdivision
4, and chapter 297A.
new text end

new text begin (b) Interest must be paid on an overpayment refunded or credited to the taxpayer from
the date of payment of the tax until the date the refund is paid or credited. For purposes of
this subdivision, the date of payment is the due date of the return or the date of actual
payment of the tax, whichever is later.
new text end

new text begin Subd. 8. new text end

new text begin Personal debt. new text end

new text begin The tax imposed under this section, and interest and penalties
imposed with respect to the tax, are a personal debt of the person required to file a return
from the time the liability for that tax arises, irrespective of when the liability is to be paid.
The debt must, in the case of the executor or administrator of the estate of a decedent and
in the case of a fiduciary, be that of the person in the person's official or fiduciary capacity
only, unless the person has voluntarily distributed the assets held in that capacity without
reserving sufficient assets to pay the tax, interest, and penalties, in which event the person
is personally liable for any deficiency.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for transfers made after June 30, 2026.
new text end