84R14476 DDT-D
By: Fallon H.B. No. 4120
A BILL TO BE ENTITLED
AN ACT
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.