King Introduces WIRED Act

COLUMBUS –State Representative Angie King (R-Celina) recently reintroduced legislation to combat illegal activity by imposing a fee on wire transfers. 

The Ohio Withholding Illegal Revenue Entering Drug (WIRED) Act will require a 3% fee on domestic and international remittances. 

“We need every tool in our arsenal to combat the cartels and illicit activity coming across our borders,” said King. “This legislation has the potential to influence the financial activities of the trafficking and cartel networks by making it less desirable to locate in Ohio, ultimately ensuring the safety of our communities and state as a whole.” 

The money from the wire-transfer fee will be collected into the drug money laundering and wire transmitter fund, which will be used to support law enforcement initiatives combating drug and human trafficking in Ohio. 

This legislation will also create a tax credit for citizens who wire money out of Ohio. 

House Bill 149 has been assigned to the House Financial Institutions Committee and awaits its first hearing.