Relating to money transmissions sent to destinations outside the United States; imposing a fee.
Impact
The bill directs revenue collected from the imposed fees to the Border Security Account, which will fund the Department of Public Safety and potentially the Texas National Guard. This focus on border security aligns the bill with broader state objectives of enhancing safety and control at state borders, reflecting ongoing concerns about immigration and financial transactions that cross borders. By generating funds through these fees, supporters argue that the bill will provide necessary resources for state security initiatives.
Summary
House Bill 1760 introduces a regulation on money transmissions sent to destinations outside of the United States. The bill mandates that money transmission businesses impose a fee for each transmission initiated in Texas where the sender cannot verify their U.S. citizenship or lawful presence. The fee structure consists of three percent of the amount sent, along with a standard charge of five dollars. This initiative is aimed at establishing a financial framework to support border security efforts in the state.
Contention
There may be points of contention surrounding the bill regarding its implications for individuals who may be marginalized by the requirement to prove citizenship. Critics may argue that this fee could disproportionately impact immigrants and non-citizens who rely on these money transmission services for remittances, possibly leading to increased economic strain on are vulnerable populations. Additionally, concerns may arise about the administrative burden on financial institutions and how these fees may affect their customers.
Notable_points
A significant point within the bill is the exemption for individuals with accounts at financial institutions, meaning that existing account holders may not bear this fee burden, which could confer a perceived advantage to regular banking customers over those utilizing alternative services. The requirement for proof of citizenship could also lead to potential oversight and discrimination issues, further complicating the effects of this legislation.
Relating to the regulation of money services businesses; creating a criminal offense; creating administrative penalties; authorizing the imposition of a fee.
Relating to the authorization, licensing, and regulation of casino gaming and sports wagering in this state, to the creation, powers, and duties of the Texas Gaming Commission, to the support of the horse racing industry and reform of horse racing and greyhound racing, and to other provisions related to gambling; imposing and authorizing administrative and civil penalties; imposing taxes; imposing and authorizing fees; requiring occupational licenses; creating criminal offenses.
Relating to small business recovery funds and insurance tax credits for certain investments in those funds; imposing a monetary penalty; authorizing fees.
Relating to the regulation of sports wagering; requiring occupational permits; authorizing fees; imposing a tax; decriminalizing wagering on certain sports events; creating criminal offenses; providing administrative penalties.
Relating to the regulation of sports wagering; requiring occupational permits; authorizing fees; imposing a tax; decriminalizing wagering on certain sports events; creating criminal offenses; providing administrative penalties.
Relating to local option elections to legalize or prohibit the operation of eight-liners; imposing fees and issuing fee permits; creating criminal offenses; increasing criminal penalties.
A bill for an act relating to electric transmission lines and electric transmission owners, and including effective date and applicability provisions.(Formerly SSB 3176.)
A bill for an act relating to electric transmission lines and electric transmission owners, and including effective date and applicability provisions.(See HF 2551.)