79(R) HB 2345 - Introduced version


                                                                                

79R2844 CLG-F

By:  Luna                                                         H.B. No. 2345



A BILL TO BE ENTITLED

AN ACT

relating to the imposition of a fee for a currency transmission sent 
to a destination outside the United States.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 278.001, Finance Code, is amended to 
read as follows:    
	Sec. 278.001.  DEFINITIONS.  Except as otherwise provided by 
Subchapter B or D, in [In] this chapter:
		(1)  "Currency" has the meaning assigned by Section 
153.001.                
		(2)  "Currency transmission business" means engaging 
in or offering currency transmission as a service or for profit. 
[The term does not include:
			[(A)  a federally insured financial institution, 
as defined by Section 201.101, that is organized under the laws of 
this state, another state, or the United States; or
			[(B)  a title insurance company or title insurance 
agent, as defined by Article 9.02, Insurance Code.]
		(3)  "Currency transmission" means receiving currency 
or an instrument payable in currency in order to transmit the 
currency or its equivalent by wire, computer modem, facsimile, 
physical transport, or any other means or through the use of a 
financial intermediary, the Federal Reserve System, or another 
funds transfer network.
		(4)  "Fee" does not include revenue that a currency 
transmission business generates in connection with a currency 
transmission in the conversion of a currency of one government into 
the currency of another government.
	SECTION 2.  Subchapter B, Chapter 278, Finance Code, is 
amended by adding Section 278.054 to read as follows:
	Sec. 278.054.  APPLICABILITY.  For purposes of this 
subchapter, "currency transmission business" does not include:
		(1)  a federally insured financial institution, as 
defined by Section 201.101, that is organized under the laws of this 
state, another state, or the United States; or
		(2)  a title insurance company or title insurance 
agent, as defined by Article 9.02, Insurance Code.
	SECTION 3.  Section 278.101(a), Finance Code, is amended to 
read as follows: 
	(a)  A person who knowingly violates Subchapter B [this 
chapter] is liable to the state for a civil penalty in an amount not 
to exceed $1,000 for each violation.  The attorney general or the 
prosecuting attorney in the county in which the violation occurs 
may bring:
		(1)  a suit to recover the civil penalty imposed under 
this section;  and   
		(2)  an action in the name of the state to restrain or 
enjoin a person from violating Subchapter B [this chapter].
	SECTION 4.  Chapter 278, Finance Code, is amended by adding 
Subchapter D to read as follows:
	SUBCHAPTER D.  CURRENCY TRANSMISSION FEE
	Sec. 278.151.  DEFINITIONS.  In this subchapter:                        
		(1)  "Currency transmission" has the meaning assigned 
by Section 153.001.
		(2)  "Currency transmission business" means a person 
engaging in currency transmission as a service or for profit.
	Sec. 278.152.  FEE ON CERTAIN CURRENCY TRANSMISSIONS. (a)  A 
person that engages in currency transmission must impose a fee on 
currency transmission destined from this state to a destination 
outside the United States.  The amount of the fee is one-half of one 
percent of the total amount sent by currency transmission to a 
destination outside the United States.
	(b)  A currency transmission business shall remit the fee 
imposed by this section to the comptroller each quarter in the 
manner prescribed by the comptroller.
	(c)  The comptroller shall adopt any necessary rules for the 
administration, payment, collection, remittance, and enforcement 
of the fee imposed by this section.
	Sec. 278.153.  TRUST ACCOUNT.   The comptroller shall 
deposit the fees collected by the comptroller under this subchapter 
in trust in the separate suspense account of the county from which 
the taxes were collected.
	Sec. 278.154.  DISTRIBUTION OF TRUST FUNDS.  At least twice 
during each state fiscal year and at other times as often as 
feasible, the comptroller shall send to the county treasurer 
payable to the county the county's share of the fees collected by 
the comptroller under this subchapter.
	Sec. 278.155.  STATE'S SHARE.  Before sending any money to a 
county under this subchapter, the comptroller shall deduct two 
percent of the amount of the fees collected within the county during 
the period for which a distribution is made as the state's charge 
for its services under this subchapter and shall credit the money 
deducted to the general revenue fund.
	Sec. 278.156.  AMOUNTS RETAINED IN TRUST ACCOUNT.  (a)  The 
comptroller may retain in the suspense account of a county a portion 
of the county's share of the fee collected for the county under this 
subchapter, not to exceed five percent of the amount remitted to the 
county.  If the fee is abolished or the law imposing the fee is 
repealed, the amount that may be retained may not exceed five 
percent of the final remittance to the county at the time of the 
termination of the collection of the fee.
	(b)  From the amounts retained in a county's suspense 
account, the comptroller may make refunds for overpayments to the 
account and to redeem dishonored checks and drafts deposited to the 
credit of the account.
	Sec. 278.157.  INTEREST ON TAX REVENUE.  Interest earned on 
all deposits made with the comptroller under this subchapter, 
including interest earned from the suspense accounts retained under 
Section 278.156, shall be credited to the general revenue fund.
	Sec. 278.158.  USE OF FEE REVENUE FOR INDIGENT HEALTH CARE.  
(a)  Except as provided by Subsection (b) or (c), the money received 
by a county under this subchapter is for the use and benefit of the 
county.  The county shall use the money only for indigent health 
care purposes.
	(b)  If the county has a countywide hospital district, the 
money received by the county under this chapter is received only for 
the use and benefit of the hospital district.
	(c)  If territory within the county is included in the 
boundaries of one or more hospital districts that are not 
countywide, the money received by the county under this subchapter 
must be:
		(1)  used only for indigent health care purposes; and                  
		(2)  allocated between the county and a hospital 
district located in the county according to the number of indigent 
persons served by the county or a hospital district located in the 
county during the preceding calendar year.
	SECTION 5.  The fees imposed under Subchapter D, Chapter 
278, Finance Code, as added by this Act, apply only to currency 
transmissions that occur on or after October 1, 2005.
	SECTION 6.  Not later than October 1, 2005, the comptroller 
shall adopt rules as necessary to implement Subchapter D, Finance 
Code, as added by this Act.
	SECTION 7.  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, 2005.