Texas House Bill HB311

Texas 2017 - 85th 1st C.S.

Caption

Relating to money transmissions sent to destinations outside the United States; imposing a fee.

Impact

The implementation of HB 311 could significantly affect financial transactions originating in Texas, especially those involving immigrants or non-citizens. By mandating fees on specific transmissions, the bill may deter some individuals from utilizing money transfer services. The revenue generated from these transactions is designated for the border security account, which funds initiatives aimed at ensuring security and managing immigration enforcement along the Texas border.

Summary

House Bill 311 introduces regulations regarding money transmissions sent from Texas to foreign destinations, imposing a fee based on the transaction amount and the sender's immigration status. According to the bill, any financial institution involved in money transmission is required to charge a fee amounting to three percent of the total amount transmitted, plus a flat fee of $5, unless the sender presents proof of U.S. citizenship or lawful residence. This measure aims to ensure compliance with immigration-related financial operations and enhance revenue for state security efforts.

Contention

Key points of contention surrounding this bill include concerns over its potential discrimination against individuals who may lack proof of immigration status. Critics argue that the fees could disproportionately impact low-income communities, particularly immigrants who rely on remittances to support family members abroad. Furthermore, the requirement to charge fees and complications in proof of citizenship could create barriers to financial access and exacerbate existing inequalities.

Last_action

This bill is set to take effect on December 1, 2017, pending necessary rules adoption by the comptroller, which must be completed by March 1, 2018.