US Codex
Bill
Notes

To impose a fee on certain remittance transfers to fund border security.

H.R. 8566 · 117th Congress · Jul 28, 2022 · Lineage

A BILL

Section 1 Remittance transfer fee

(a)
In general— Section 920 of the Electronic Fund Transfer Act (relating to remittance transfers) (15 U.S.C. 1693o–1) is amended—
(1)
by redesignating subsection (g) as subsection (h); and
(2)
by inserting after subsection (f) the following:

“(g) Remittance transfer fee

“(1) In general—If the designated recipient of a remittance transfer is located outside of the United States, a remittance transfer provider shall collect from the sender of such remittance transfer a remittance transfer fee equal to 5 percent of the United States dollar amount to be transferred.

“(2) Transfer of funds—Not later than 90 days after the date of enactment of this subsection, the Secretary of the Treasury, in consultation with the Bureau and remittance transfer providers, shall develop and make available a system for remittance transfer providers to submit the remittance transfer fees collected in accordance with paragraph (1) to the Secretary for transfer to the Border Enforcement Trust Fund as provided in section 3344(b) of title 31, United States Code.

“(3) Penalties

“(A) Whoever, with the intent to evade a remittance transfer fee to be collected in accordance with this subsection, and who has knowledge that, at the time of a remittance transfer, the value of the funds involved in the transfer will be further transferred to a recipient located outside of the United States, requests or facilitates such remittance transfer to a recipient located outside of the United States shall be subject to a penalty of not more than $500,000 or twice the value of the funds involved in the remittance transfer, whichever is greater, or imprisonment for not more than 20 years, or both.

“(B) Any foreign country that, in the joint determination of the Secretary of Homeland Security, the Secretary of the Treasury, and the Secretary of State, aids or harbors an individual conspiring to avoid the fee collected in accordance with this subsection shall be ineligible to receive foreign assistance and to participate in the visa waiver program or any other programs, at the discretion of the Secretaries described in this subparagraph.”

(b)
Refundable income tax credit allowed to citizens of the United States for remittance transfer fees—
(1)
In general— Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:

“36C. Remittance transfer fees of United States citizens

“In the case of any individual who is a citizen of the United States, there shall be allowed as a credit against the tax imposed by this subtitle for any taxable year an amount equal to the aggregate amount of remittance transfer fees paid by such individual under section 920(g) of the Electronic Fund Transfer Act (15 U.S.C. 1693o–19(g)) during such taxable year.”

(2)
Conforming amendments—
(A)
Section 6211(b)(4)(A) of the Internal Revenue Code of 1986 is amended by inserting “36C,” after “36B,”.
(B)
Paragraph (2) of section 1324(b) of title 31, United States Code, is amended by inserting “36C,” after “36B,”.
(C)
The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 36B the following new item:
(3)
Effective date— The amendments made by this subsection shall apply to taxable year ending after the date of the enactment of this Act.
(c)
Report regarding amount of remittance transfers to each foreign country— The Commissioner of the United States Customs and Border Protection shall annually submit to the Committee on Banking, Housing, and Urban Affairs and the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Financial Services and the Committee on Homeland Security of the House of Representatives an annual report describing the aggregate amount of remittance transfers made to each foreign country during the year to which such report relates.

Sec. 2 Border Enforcement Trust Fund

(a)
Establishment of fund— At the end of subchapter III of chapter 33 of title 31, United States Code, insert the following:

“3344. Border Enforcement Trust Fund.

“(a) Establishment of trust fund—Not later than 60 days after the date of enactment of this section, the Secretary of the Treasury shall establish an account in the Treasury of the United States, to be known as the “Border Enforcement Trust Fund”.

“(b) Transfers to trust fund

“(1) In general—There are hereby appropriated to the Border Enforcement Trust Fund the excess of—

“(A) amounts collected as remittance transfer fees under section 920(g) of the Electronic Fund Transfer Act (15 U.S.C. 1693o–19(g)), over

“(B) credits allowed under section 36C of the Internal Revenue Code of 1986 with respect to such amounts.

“(2) Timing and estimates—Amounts appropriated under paragraph (1) shall be transferred by the Secretary of the Treasury at least monthly from the general fund of the Treasury on the basis of estimates made by the Secretary of the Treasury. Proper adjustments shall be made in amounts subsequently transferred to the extent prior estimates where in excess of or less than the amounts required to be transferred.

“(c) Expenditures from trust fund—Amounts in the Border Enforcement Trust Fund shall be available, as provided in appropriation Acts, only to—

“(1) employ and train additional U.S. Border Patrol agents,

“(2) employ and train officers and support staff employed in enforcement and removal operations of Immigration and Customs Enforcement of the Department of Homeland Security,

“(3) plan, design, construct, improve, or maintain barriers along the international border between the United States and Mexico, and

“(4) plan, design, construct, improve, or maintain detention facilities for aliens without lawful immigration status.”

(b)
Clerical amendment— The table of contents for chapter 33 of title 31, United States Code, is amended by inserting at the end the following: