Texas HB4364 establishes a remittance transfer fee to fund border security enhancements.

HB4364 amends the Texas Finance Code to create a remittance transfer fee, requiring providers to collect five percent of the transfer amount for transfers to recipients outside the U.S. These fees are deposited into the border security enhancement fund, a special fund outside the general revenue fund. The fund supports activities like employing and training border security personnel, and constructing barriers and detention facilities.

Texas HB4364 establishes a remittance transfer fee to fund border security enhancements.

HB4364 amends the Texas Finance Code to create a remittance transfer fee, requiring providers to collect five percent of the transfer amount for transfers to recipients outside the U.S. These fees are deposited into the border security enhancement fund, a special fund outside the general revenue fund. The fund supports activities like employing and training border security personnel, and constructing barriers and detention facilities.