South Carolina H4251 establishes fees on money transmission transactions to fund the Illegal Immigration Enforcement Unit.
South Carolina H4251 mandates that licensees of money transmission businesses collect a fee on each transaction. The fee is $7.50 for transactions up to $500 and an additional 1.5% on the amount exceeding $500. These fees are to be remitted quarterly to the Department of Revenue and directed into the Illegal Immigration Enforcement Fund. The fund is to be used exclusively for the operations of the Illegal Immigration Enforcement Unit. Failure to remit fees can result in license suspension.
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