AI-generated summary, reviewed by Better Utah staff.

Starting January 1, 2027, this bill creates a new 2% tax on international money transmissions — that is, money sent abroad through licensed transmitters like wire transfer services — with the tax collected from the customer at the time of the transaction and itemized on their receipt. The tax is waived if the customer presents valid government-issued identification, such as a U.S. passport, state driver license, or military ID, though Utah driving privilege cards do not qualify. Immigrants and foreign workers who send money to family abroad but lack qualifying ID will pay an added 2% on every transfer, while those who can present valid ID are exempt.