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Committee ratifies DCBS fee increases for money transmitters and check cashiers
Summary
The subcommittee adopted the dash‑1 amendment to Senate Bill 5545 on June 4, ratifying administrative fee increases at the Department of Consumer and Business Services that the agency implemented during the interim and moving the measure to the full committee with a due‑pass recommendation.
The Joint Committee on Ways and Means Subcommittee on Transportation and Economic Development on June 4 adopted the Legislative Fiscal Office recommendation and the dash‑1 amendment to Senate Bill 5545, a fee‑ratification measure for the Department of Consumer and Business Services.
The LFO advised the subcommittee that DCBS administratively increased the money‑transmitter renewal fee from $500 to $1,000 and the check‑cashier initial and renewal fees from $150 to $300 effective March 1, 2025. LFO estimated the fee changes will generate approximately $275,550 in other‑funds revenue in the 2025‑27 biennium and said no additional other‑funds expenditure limitation is necessary.
Representative Kate moved adoption of the dash‑1 amendment; after brief procedural pauses to secure votes, the subcommittee adopted the amendment and voted to move SB 5545 to the full Ways and Means Committee with a due‑pass recommendation.
Committee context and details
- LFO noted the check‑cashier fees were last increased in 2007 and the money‑transmitter fee was last adjusted in February (year not specified in the transcript). - LFO described the revenue estimate of about $275,550 in the 2025‑27 biennium and stated the additional revenue will support existing program services; no additional spending authority was requested at the work session.
Ending note
The subcommittee forwarded SB 5545 to the full committee with a due‑pass recommendation; the measure ratifies fee changes DCBS implemented by administrative rule and does not request additional expenditure limitation at this time.
