Bill Text: TX HB4120 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to money transmissions sent to destinations outside the United States; authorizing a fee.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-04-08 - Left pending in committee [HB4120 Detail]
Download: Texas-2015-HB4120-Introduced.html
| 84R14476 DDT-D | ||
| By: Fallon | H.B. No. 4120 | |
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| relating to money transmissions sent to destinations outside the | ||
| United States; authorizing a fee. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subtitle Z, Title 3, Finance Code, is amended by | ||
| adding Chapter 279 to read as follows: | ||
| CHAPTER 279. MONEY TRANSMISSION FEE | ||
| SUBCHAPTER A. GENERAL PROVISIONS | ||
| Sec. 279.001. DEFINITIONS. In this chapter: | ||
| (1) "Money transmission" has the meaning assigned by | ||
| Section 151.301. | ||
| (2) "Money transmission business" means a person | ||
| engaging in money transmission as a service or for profit. | ||
| SUBCHAPTER B. FEE ON CERTAIN MONEY TRANSMISSIONS | ||
| Sec. 279.051. FEE ON CERTAIN TRANSMISSIONS TO FOREIGN | ||
| DESTINATIONS. (a) A money transmission business shall charge a fee | ||
| on a money transmission for an individual that originates in this | ||
| state and is transmitted to a destination outside of the United | ||
| States unless the individual presents proof that the individual is | ||
| a United States citizen or is lawfully present in the United States, | ||
| including by showing: | ||
| (1) the individual's birth certificate indicating that | ||
| the individual is a United States citizen; | ||
| (2) a document issued by the United States government | ||
| indicating that the individual: | ||
| (A) is a United States citizen; or | ||
| (B) is not a United States citizen but is | ||
| lawfully present in the United States; | ||
| (3) a current driver's license or personal | ||
| identification card issued to the individual by the Department of | ||
| Public Safety or a similar document issued to the individual by an | ||
| agency of another state; or | ||
| (4) the individual's social security card. | ||
| (b) The amount of the fee is 10 percent of the total amount | ||
| sent by the money transmission. | ||
| (c) The money transmission business shall: | ||
| (1) collect the fee from the individual directing or | ||
| requesting the business to make the transmission; and | ||
| (2) remit the fee to the comptroller at the times and | ||
| in the manner prescribed by the comptroller. | ||
| (d) The comptroller shall deposit the revenue received | ||
| under this section to the credit of the border security account | ||
| established under Section 279.052. | ||
| Sec. 279.052. BORDER SECURITY ACCOUNT. The border security | ||
| account is an account in the general revenue fund. Money in the | ||
| account may be appropriated only to the Department of Public Safety | ||
| or the Texas National Guard to provide funding for border security | ||
| efforts in this state. | ||
| SECTION 2. The fees imposed under Subchapter B, Chapter | ||
| 279, Finance Code, as added by this Act, apply only to money | ||
| transmissions that occur on or after October 1, 2015. | ||
| SECTION 3. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2015. | ||
