Section A. Any licensee of a money transmission, transmitter, or wire transmitter business granted a license by the [state] department of revenue shall collect a fee of $[XX] not in excess of five hundred dollars ($500.00) for each transaction and in addition to such fee, an amount equal to [XX] percent of the amount in excess of five hundred dollars ($500.00).

Section B. The fee prescribed by Section A shall be remitted quarterly to the Department of Revenue. All remittances shall be filed with the department of revenue not later than the fifteenth day of the month following the close of each calendar quarter.

Section C. Every licensee shall provide a written notice to all customers of its transmission services that upon filing an individual state income tax return with proof of either U.S. citizenship, U.S. nationality, or lawful permanent residency, the customer shall be entitled to an income tax credit equal to the amount of the fee paid by the customer for the transaction.

Section D. If a licensee fails to remit the fee authorized by Section B, the department of revenue shall have the authority to suspend the license of the licensee and collect all remittances due the department, including recovery of costs and attorneys’ fees incurred in collecting the remittances. The licensee may not reapply for a license until all required fee amounts and costs have been remitted and the department shall have the authority to conduct any needed audit of the licensee.

Section E. The department of revenue may make a claim against any surety bond of the licensee held by any agency or department of the State of [XXX].